The existence of bitcoin is a severe complication for China’s CBDC ambitions, presenting an attractive store of wealth and effective cross-border payment system to those BRI nations that China seeks to entangle with the e-RMB.

Given that a large amount (potentially a majority) of Bitcoin is held by U.S. residents, we stand to disproportionately benefit from its monetization. Over 500 U.S. start-ups have raised over $6 billion in seed funding, building strong businesses and attracting international talent, capital investment, and consumer demand.

Anything that helps advance the cause of freedom thus helps advance this core national interest.