Bitcoin (BTC), and cryptocurrencies in general, have been put in the spotlight with the recent Russian invasion of Ukraine. Many Russian civilians are flocking to crypto and Bitcoin to escape the crumbling value of the Ruble. Moreover, Ukrainians have been accepting crypto donations to fund their war spending.
In a recent podcast with Anthony Pompliano, Jason Lowery, an MIT researcher, says that BTC may play a crucial role in national security, and the US should acquire bitcoin to counter the impact of other countries attempting to wean themselves off the US dollar. Lowery is an astronautical engineer in the U.S. Space Force.
According to Lowery;
“The United States better posture themselves to benefit from that and you do that by buying bitcoin, so you capture disproportionate value as people flood into it,”
Lowery believes that if this becomes the new property protection procedure to which everyone adheres, the United States will be positioning itself to become a superpower for the next 1,000 years.
Lowery also says that BTC can maintain zero trust and equal power, resulting in the creation of a massive industrial-military complex.
“The asymmetric advantage of the first mover cannot be understated,”
Is Bitcoin an economical weapon? Or a shield from economic centralization?
Truth be told, Bitcoin (BTC) is a bit of both. It is an economical weapon as it is beyond the control of one country. And we by and large already know about its protection from central authorities. Central authorities can more or less control the exchanges, but not the underlying asset.
Although Bitcoin and crypto have seen many adoption stories and major acceptances, there is still a long way to go before we see mass worldwide use. El Salvador is still the only country to use Bitcoin as a legal tender. There have been talks of Mexico joining the list of countries to use Bitcoin, but there has been no confirmation as of yet.
Moreover, as the number of countries that want to accept Bitcoin grows, so is the number of sanctions. With the American and NATO sanctions against Russia, many are moving to crypto to escape said sanctions.
As a result of sanctioned Russian oligarchs and billionaires turning to BTC, lawmakers and authorities throughout the world are attempting to crack down on bitcoin and crypto.
“Banning [bitcoin] is not an option….You can’t ban your adversary from using this.”
At the time of publication, BTC was trading at $42,146.60.