What you will learn:
- Bitcoin's potential future role for US national security and whether it can become a new global reserve currency.
- Massive global change on several fronts could result in crypto playing an increasingly important role in the future.
- One theory sees Bitcoin becoming a strategic asset for US national security.
- Bitcoin can defend and nurture existing strengths like incentivizing the use of renewable energy sources.
- Bitcoin can promote a favorable distribution of power by offering investors digital gold instead of analog gold preferred by states like China.
- Bitcoin is ideal for defending democratic values: it's "freedom money."
- The "Bitcoin Milkshake Theory" sees Bitcoin backing the dollar, which sucks liquidity out of other fiat currencies.
- But Bitcoin will have a hard time becoming the next reserve currency.
- Fiat would lose its legitimacy if backed by crypto, thus excluding such a possibility.
- Large-scale mining could turn into a geostrategic liability.
- Stablecoins may be preferred as a solution thanks to lower daily volatility.
- Societal breakdown may be a catalyst that delegitimizes all fiat currency.
- Bitcoin does appeal as "freedom money" and the US should embrace the use of Bitcoin and Bitcoin-related use cases as a financial sandbox in other countries.