Bo Hines, the executive director of the Presidential Advisory Council for Digital Assets in the Trump administration, warned in an interview that a global competition for accumulating Bitcoin has started. He emphasized the need for America to act swiftly and decisively to remain a dominant power in the emerging financial order. Countries like China and Russia are increasing their strategic Bitcoin reserves, and if America does not react and acquire Bitcoin to the extent possible, it may find itself economically and geopolitically vulnerable in the future. Hines also mentioned the government’s efforts to pass laws related to market structure and stablecoins, welcoming bipartisan cooperation in this regard. He regarded stablecoins as an important tool to maintain the dollar’s dominance against the efforts of BRICS countries and discussed the possibility of using blockchain in the governmental sector.
