Trump Aide Predicts Bitcoin's Rise Due to Global Rivalry
Date: 2024-12-09 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Cryptocurrency policy consultant to President Trump's team, David Bailey, said Bitcoin could become the center of a battle for dominance between the US, China, and other countries. He is confident that the Asian giant will replace Russia as the main competitor in the global race for control of BTC.
At the moment, the US and China hold the leading positions as "Bitcoin superpowers." The US holds the largest national reserve of the cryptocurrency - almost 200,000 BTC. At the same time, China, despite its official anti-cryptocurrency policy, has accumulated about 190,000 BTC, mostly confiscated from fraudulent schemes and criminal groups.
Bailey emphasized that in the future, only two or three countries will be able to hold seven-figure amounts of Bitcoin. Other countries will settle for six-figure amounts, while most will not even exceed 100,000 BTC.
“We are witnessing the beginning of a new era,” Bailey said. “This race for Bitcoin has already begun, and time is of the essence.”
In November, Bailey called on the US government to create a strategic reserve of Bitcoin to get ahead of other countries that may take similar steps. In his opinion, the US delay threatens to lose its leadership in this critical area, where Bitcoin can play a key role in the global economy.
Global competition caused by technological innovation and economic instability makes Bitcoin not only an investment asset, but also an important element of national strategic policy.
