Categories: Bitcoin Latest News

Bitcoin Supports U.S. National Security Objectives: Report

The Bitcoin Policy Institute argues that Bitcoin can aid the U.S. in countering strategic adversaries while ensuring local growth.

Bitcoin can support the U.S. national security objectives identified by the Biden administration while countering strategic adversaries that come to challenge the dollar-based global monetary system, the Bitcoin Policy Institute (BPI) said in its latest research report.

“Bitcoin is here to stay. It’s time national security decision-makers understood the implications,” per the report.

The institute argues that Bitcoin could help the U.S. navigate the possible changes to the world monetary order that experts ponder might emerge from the Russian-Ukrainian conflict.

Credit Suisse said in a Monday report that the U.S. dollar might suffer from the war as commodities (outside money) start to trump liabilities (inside money) as the preferred reserve assets of central banks in the East.

“When this crisis (and war) is over, the U.S. dollar should be much weaker and, on the flipside, the renminbi much stronger, backed by a basket of commodities,” Credit Suisse’s global head of short-term interest rate strategy, Zoltan Pozsar, wrote. “After this war is over, ‘money’ will never be the same again…and Bitcoin (if it still exists then) will probably benefit from all this.”

BPI makes the case for U.S. officials to reassess the durability of the current U.S. dollar-based monetary system and identify ways it could respond to a possible challenge to its currency’s hegemony. The institute argues that Bitcoin represents a strategic national security opportunity for the U.S. to drive economic strength, counter strategic adversaries, and promote American values.

“The U.S. is exceptionally well-poised to take unique advantage of the opportunity presented by the emergence of Bitcoin and use it to help promote a more abundant and resilient future,” the report said.

BPI states that Bitcoin’s Proof-of-Work mining may incentivize renewable energy generation and improve energy system resilience, while Bitcoin’s digital and borderless nature could counter China’s efforts to internationalize its digital yuan. Moreover, Bitcoin enables citizens of authoritarian states to finance opposition to their governments and move capital into Western markets.

“A world where Bitcoin fails is a world where U.S. retrenchment and decline is more likely. A world where Bitcoin succeeds is a world where our role in the global system, while changed, may long endure,” the report said.

The research paper comes on the heels of multiple reports that Biden is set to sign an executive order this week outlining the U.S. government’s plans for Bitcoin and cryptocurrency as it relates to national security impacts and regulation of the burgeoning market.

Read More

The Bitcoin Policy Institute argues that Bitcoin can aid the U.S. in countering strategic adversaries while ensuring local growth.

Author:

Namcios

Publish date:

Mar 8, 2022

The Bitcoin Policy Institute argues that Bitcoin can aid the U.S. in countering strategic adversaries while ensuring local growth.

Bitcoin can support the U.S. national security objectives identified by the Biden administration while countering strategic adversaries that come to challenge the dollar-based global monetary system, the Bitcoin Policy Institute (BPI) said in its latest research report.

“Bitcoin is here to stay. It’s time national security decision-makers understood the implications,” per the report.

The institute argues that Bitcoin could help the U.S. navigate the possible changes to the world monetary order that experts ponder might emerge from the Russian-Ukrainian conflict.

Credit Suisse said in a Monday report that the U.S. dollar might suffer from the war as commodities (outside money) start to trump liabilities (inside money) as the preferred reserve assets of central banks in the East.

“When this crisis (and war) is over, the U.S. dollar should be much weaker and, on the flipside, the renminbi much stronger, backed by a basket of commodities,” Credit Suisse’s global head of short-term interest rate strategy, Zoltan Pozsar, wrote. “After this war is over, ‘money’ will never be the same again…and Bitcoin (if it still exists then) will probably benefit from all this.”

BPI makes the case for U.S. officials to reassess the durability of the current U.S. dollar-based monetary system and identify ways it could respond to a possible challenge to its currency’s hegemony. The institute argues that Bitcoin represents a strategic national security opportunity for the U.S. to drive economic strength, counter strategic adversaries, and promote American values.

“The U.S. is exceptionally well-poised to take unique advantage of the opportunity presented by the emergence of Bitcoin and use it to help promote a more abundant and resilient future,” the report said.

BPI states that Bitcoin’s Proof-of-Work mining may incentivize renewable energy generation and improve energy system resilience, while Bitcoin’s digital and borderless nature could counter China’s efforts to internationalize its digital yuan. Moreover, Bitcoin enables citizens of authoritarian states to finance opposition to their governments and move capital into Western markets.

“A world where Bitcoin fails is a world where U.S. retrenchment and decline is more likely. A world where Bitcoin succeeds is a world where our role in the global system, while changed, may long endure,” the report said.

The research paper comes on the heels of multiple reports that Biden is set to sign an executive order this week outlining the U.S. government’s plans for Bitcoin and cryptocurrency as it relates to national security impacts and regulation of the burgeoning market.

Feedzy

Recent Posts

US to Release Jailed BTC-e Operator Vinnik in Russia Prisoner Swap

Alexander Vinnik, the jailed former operator of once mighty bitcoin exchange BTC-e, is being released…

45 minutes ago

Galoy Launches Bitcoin-Backed Loan Software, Sets Groundwork For Open-Source Banking

Founder: Nicolas Burtey Date Founded: September 2019 Location of Headquarters: United States Number of Employees:…

45 minutes ago

Goldman Sachs Disclosed Ownership of Bitcoin ETFs. Here’s Why It Doesn’t Mean Much

Bitcoin Twitter (or Bitcoin X) is having a moment after a 13F filing by Goldman…

2 hours ago

Is Ethereum ‘Most Hated Rally’ About To Begin? Analyst Finds Bitcoin Cycle Similarities

After a relatively subdued price performance in 2024, Ethereum (ETH) could be on the verge…

2 hours ago

El Salvador Dispatch: Berlín, the Bitcoin Marvel Hidden in the Mountains

In El Salvador, about two hours away from the capital, up in the mountains, lies…

3 hours ago

Bitcoin OTC Balances Decline, Raising Market Supply Questions

Bitcoin has experienced a challenging period recently, with its price consistently declining over the past…

3 hours ago