Bitcoin as a US “Trump Card” Against BRICS De-Dollarization
With the BRICS alliance pushing for de-dollarization, one expert believes Bitcoin could be the US’s secret weapon. Sam Lyman, director of public policy at Riot Platforms, argues that the US could use Bitcoin as a strategic reserve asset to counter BRICS’ efforts.
Lyman draws parallels between the crypto sector and the ‘Space Race,’ emphasizing the importance of Bitcoin as a key asset in the ongoing geopolitical rivalry. He believes that classifying Bitcoin as a strategic reserve asset would be a significant move for the US, similar to the US’s early dominance in space exploration during the Cold War.
Lyman notes that if the US were to accumulate Bitcoin on its balance sheet, other countries would follow suit, creating a powerful incentive for global adoption. This, he argues, would strengthen the US dollar and counter BRICS’ efforts to diminish its influence.
Earlier this year, there were rumors that former US President Donald Trump was considering making Bitcoin a reserve asset, emphasizing the US’s need to outpace China in crypto adoption. This could be the start of a US-led “Bitcoin Space Race.”
Lyman highlights the BRICS nations’ accumulation of gold as a clear de-dollarization play. He argues that the US should focus on “digital gold,” in the form of Bitcoin, which he believes is uniquely positioned to complement physical gold as a strategic reserve asset.
Bitcoin’s potential as a strategic reserve asset is becoming increasingly evident, and the US’s role in this unfolding “Bitcoin Space Race” will be crucial.
