{"id":10790,"date":"2022-03-08T22:18:54","date_gmt":"2022-03-08T22:18:54","guid":{"rendered":"http:\/\/ci029ba908300027ae"},"modified":"2022-03-08T22:18:54","modified_gmt":"2022-03-08T22:18:54","slug":"bitcoin-supports-us-national-security-objectives-report","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/bitcoin-supports-us-national-security-objectives-report","title":{"rendered":"Bitcoin Supports U.S. National Security Objectives: Report"},"content":{"rendered":"
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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<\/a>.<\/p>\n

\u201cBitcoin is here to stay. It\u2019s time national security decision-makers understood the implications,\u201d per the report.<\/p>\n

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.<\/p>\n

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.<\/p>\n

\u201cWhen 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,\u201d Credit Suisse\u2019s global head of short-term interest rate strategy, Zoltan Pozsar, wrote<\/a>. \u201cAfter this war is over, \u2018money\u2019 will never be the same again\u2026and Bitcoin (if it still exists then) will probably benefit from all this.\u201d<\/p>\n

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\u2019s 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.<\/p>\n

\u201cThe 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,\u201d the report said.<\/p>\n

BPI<\/a> states that Bitcoin\u2019s Proof-of-Work mining may incentivize renewable energy generation and improve energy system resilience, while Bitcoin\u2019s digital and borderless nature could counter China\u2019s 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.<\/p>\n

\u201cA 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,\u201d the report said.<\/p>\n

The research paper comes on the heels of multiple reports that Biden is set to sign an executive order this week<\/a> outlining the U.S. government\u2019s plans for Bitcoin and cryptocurrency as it relates to national security impacts and regulation of the burgeoning market.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin Policy Institute argues that Bitcoin can aid the U.S. in countering strategic adversaries while ensuring local growth.<\/p>\n","protected":false},"author":2572,"featured_media":4563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[641,93,1514],"class_list":{"0":"post-10790","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bitcoin-policy-institute","9":"tag-news","10":"tag-u-s"},"author_data":{"id":2572,"name":"Namcios","nicename":"namcios","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/pfp-96x96.png"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/red-white-and-blue.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/10790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2572"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=10790"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/10790\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/4563"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=10790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=10790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=10790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}