• The race for Bitcoin is a matter of national security, as its price barely budged after the release of the latest jobs report, despite global economic uncertainty.
• Governments must hold their Bitcoin close, as it is poised to become the world’s “primary monetary good”, displacing fiat currencies in the long run.
• Governments have already started embracing Bitcoin, as countries such as the United States, China, and Russia have made significant investments in the cryptocurrency.

The race for Bitcoin is a matter of national security in 2023. As the world stands on the brink of global economic uncertainty, governments are increasingly looking to Bitcoin as a safe haven for their investments. Bitcoin’s price barely budged after the release of the latest jobs report, holding above $16,900 even as the data suggested more rate hikes. This suggests that Bitcoin is becoming ever more resilient to macroeconomic and geopolitical events, making it an attractive investment to governments looking to hedge their exposure to traditional financial markets.

Bitcoin is also poised to become the world’s “primary monetary good”, displacing fiat currencies in the long run. This is because of its decentralized nature and its ability to provide global access to digital assets without interference from governments or other third parties. With its increasing resilience to macroeconomic events, Bitcoin is becoming an increasingly attractive investment for those looking to hedge their exposure to traditional financial markets. Governments are quickly starting to embrace Bitcoin, as countries such as the United States, China, and Russia have made significant investments in the cryptocurrency.

The United States has started to invest heavily in Bitcoin, with the U.S. Treasury Department recently announcing that it will purchase $1 billion worth of the cryptocurrency. This investment is part of the Biden administration’s $1.9 trillion stimulus package, which is designed to help the nation’s economy recover from the effects of the COVID-19 pandemic. The U.S. government’s investment in Bitcoin is a strong indication of its commitment to the cryptocurrency, and it is likely that other countries will soon follow suit.

China and Russia have also started to invest heavily in Bitcoin. China’s central bank has recently announced that it will launch its own digital currency, the Digital Currency Electronic Payment (DCEP), which will be backed by the Chinese yuan. The Chinese government’s move to invest in a digital currency is a sign of its commitment to the technology and its potential to revolutionize the global financial system. Similarly, Russia’s central bank has also announced that it will launch its own digital currency, the CryptoRuble, which will be backed by the Russian ruble.

The race for Bitcoin is a matter of national security, as governments are increasingly viewing it as a safe haven for their investments. As more countries start to invest in the cryptocurrency, it is likely that its value will continue to increase. This is why governments must hold their Bitcoin close, as it is poised to become the world’s “primary monetary good”, displacing fiat currencies in the long run. By investing in Bitcoin, governments are ensuring that they are prepared for the future of cryptocurrency and the global economy.