• The race for Bitcoin is a matter of national security.
• Bitcoin’s price barely budged after the release of the latest jobs report.
• Bitcoin is poised to become the world’s “primary monetary good”.
The Race for Bitcoin is a Matter of National Security
As the first week of 2023 draws to a close, financial markets for everything, including crypto, remain on pause. With global economic uncertainty dominating the headlines, people are holding their cash close. But why is it increasingly important for governments to hold their Bitcoin close?
The latest jobs report revealed that Bitcoin’s price barely budged, holding above $16,900 as the job data suggested more rate hikes. This is a clear sign that Bitcoin is becoming a major player in the world’s financial markets and its importance is only increasing. Many believe that it is poised to become the world’s “primary monetary good.”
The implications of this are huge. Bitcoin is a decentralized asset that is not controlled by any government or central bank. This means that its value is determined by the market and is not influenced by any political or economic decisions. This independence means that Bitcoin has the potential to become an international currency that is not subject to the whims of governments and central banks.
This has significant implications for national security. If Bitcoin becomes the world’s primary monetary good, then governments will no longer be able to manipulate the value of their currencies to their own advantage. This means that governments will no longer be able to use economic policy to gain an advantage over other countries.
This shift in the global financial system could have major implications for geopolitical stability. Countries that are not able to compete in the digital currency market could find themselves increasingly isolated from the global economy. This could lead to increased tensions between countries and could even lead to conflict.
It is clear that the race for Bitcoin is a matter of national security. Governments must act quickly to ensure that they are not left behind in the race for the world’s primary monetary good. They must put in place the necessary regulations and infrastructure to ensure that they are able to compete in the digital currency market. Only then will they be able to protect their citizens and ensure their economic security.