Bitcoin races are a matter of national security

Bitcoin races are a matter of national security. Here's why. Financial markets, including cryptocurrencies, were flat in the first week of 2023. In this time of global economic uncertainty, people are reluctant to invest.

Bitcoin price barely moved after the latest jobs report was released, adding 0.26% over the past 24 hours as the jobs data suggests further rate hikes.

Do not miss: WHERE TO BUY BITCOIN AND CRYPTOMEN

Bitcoin is poised to become the world's "primary monetary asset"

Let's put aside for a moment the woes of investors over the winter price of cryptocurrencies and consider the reality of Bitcoin in 2023. People have previously wondered whether the cryptocurrency is here to stay. Now, successful investors and even banking giants have recognized its merits.

Fidelity Investments not only considers Bitcoin to be a safer and more resilient cryptocurrency than most of its counterparts, but its the report statesthat BTC has the characteristics and position to become the world's "primary monetary asset."

Bitcoin is not only here to stay, but will support other global reserves over the decades. This raises serious concerns about US national security and the insecurity of all major world powers in international hegemony.

National Security Strategy Must Consider Bitcoin

We are nearing an important inflection point in Bitcoin’s history. After 14 years of grand experimentation, it is now seen by technology experts and investors as a mature technology platform. It has proven its security and reliability for 14 years by generating a new block every ten minutes without interruption.

Markets are starting to reflect this new reality of Bitcoin’s stability and rise. Its price is experiencing historically low volatility. While this may not seem like much to traders who profit from turbulent markets, institutions and governments are moving forward.

As regulations become clearer, the US will have to rethink its entire foreign policy toolkit as other sovereign nations rush to jump into the bitcoin race, most notably El Salvador and others in Central America.

In his last document Regarding the national security strategy, the Biden administration states:

“We will explore the merits and responsibly lead the development of digital assets, including a digital dollar, with high standards and safeguards for stability, privacy, and security to benefit from a strong and inclusive U.S. financial system and enhance its global leadership.”

This will be important in the next decade. The dollar will never disappear as the world’s main reserve currency. It is too stable, too conventional, and backed by the United States. However, many parts of the world are actively pursuing de-dollarization policies that were unheard of in the last century. The US can only maintain its global dominance and relevance at 20th-century levels by joining the Bitcoin race.

Interesting events for our readers

Binance

Trade with up to 60% off fees and a $600 bonus

Open an account Review

Phemex

Free bonus up to $ 2,500 upon registration and deposit

Open an account Review

Bybit

Free bonus up to 3650 USD after registration and deposit

Open an account Review

All content in this article is for informational purposes only and does not in any way serve as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.