Mark Slapinski

OPINION / ANALYSIS

As countries around the world look for ways to reduce their reliance on the US Dollar, they are turning to alternative currencies. This includes cryptocurrencies such as Bitcoin. If the US government wants to maintain its global dominance, and stop Russia from gaining more ground economically, it only has one choice: buy more Bitcoin.

This article is not an advertisement for Bitcoin, rather, this article seeks to address how it’s in the best interest of the US government to increase its electronic currency dominance before Russia gets the upper hand in the cryptocurrency sphere.

To explain this, we’ll have to go back in time to World War Two.

Why should the US government care about Bitcoin?

The United States is currently the dominant financial superpower in the world, with the US Dollar being one of the strongest currencies. This was cemented with the Bretton Woods agreement, signed in 1944.

By the end of World War Two, the United States had acquired a majority of the world’s gold. While in Europe, many countries had depleted their reserves. Since these countries couldn’t return to the gold standard, they signed an agreement with the US. The Bretton Woods agreement declared that the world’s currencies would be pegged to the US Dollar.

Since 1944, the US has managed to maintain its dominance over the global financial system.

Naturally, enemies and rivals of the United States aren’t happy with the US having so much control. Recent US sanctions have forced Russia to move away from the US Dollar, hence it is seeking an alternative currency. Other countries, fearing the wrath of the US government in the future, have taken similar steps.

Countries like North Korea and Iran have used cryptocurrency to their advantage, and to the detriment of the United States. It has been reported that North Korea is funding its nuclear weapons program with stolen cryptocurrency.

If the US wants to remain a world superpower, it needs to become a superpower in cryptocurrency. And that means buying up as much Bitcoin as possible, before it gets bought up by Russian oligarchs looking to bypass sanctions. And yes, the Russians are already buying up as much Bitcoin as they possibly can.

So what is the US waiting for?

Listen to the pros

This isn’t just my opinion.

Consider what a researcher at the prestigious Massachusetts Institute of Technology (MIT) had to say:

“The United States better posture themselves to benefit from [current trends] and you do that by buying Bitcoin, so you capture disproportionate value as people flood into it.”

MIT researcher Jason Lowery made this statement to crypto investor Anthony Pompliano on a recent podcast. You can watch the full episode below.

Reality check

Of course, defeating Russia is not as simple as investing into Bitcoin. But it is one of many tactics that could help the US remain the dominant financial force in the world, while pushing Russia even farther into isolation.

Nobody wants World War Three, hence, fighting Russia with bombs and missiles is off the table. But doing everything else to push Russia and its top brass further into isolation is imperative.

Some that read this will be pro-Russian, and dislike the idea of the US retaining global dominance. But I urge you to look at some of the latest news from Ukraine, and think to yourself, if a country like Russia would be a better financial (or world) leader than the United States.

While I may have my disagreements with the US government, I’d choose them to lead the world’s economic system over Russia any day.