Bitcoin Race: US and China Will Lead

The development of Bitcoin as an international reserve asset may trigger a new competition between countries. David Bailey, the cryptocurrency policy assistant of the campaign of the President-elect Trump, predicts that this race will mainly take place between the United States and China, while other countries may join in the future. According to Bailey, with the strong pro-cryptocurrency stance of the President-elect Trump, the United States is currently leading in the number of Bitcoins held, with nearly 200,000 BTC. China, although it has a clear anti-cryptocurrency stance, still holds the second position with around 190,000 BTC, mostly from asset seizure campaigns from illegal organizations. Bailey believes that there will be room for a few other countries to join the group of major Bitcoin-holding countries, each country may own more than 100,000 BTC. However, this group will be limited to a maximum of two or three countries, while the second group, consisting of about 30 countries, may hold up to 100,000 BTC. The remaining countries, according to him, will only be able to own less than 10,000 BTC. The policy assistant emphasizes that only very few countries will be able to join the first group, and failure to act quickly will prevent other countries from participating in this race. He also calls on the US authorities to establish a strategic Bitcoin reserve fund as soon as possible to avoid being overtaken by other countries. "The Bitcoin space race is really happening," Bailey concludes, emphasizing the importance of acting quickly to maintain the United States' position in the global financial world led by Bitcoin. Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions. Join Telegram: https://t.me/tapchibitcoinvn Twitter (X): https://twitter.com/tapchibtc_io TikTok: https://www.tiktok.com/@tapchibitcoin Annie According to Newsbitcoin