CIA Deputy Director Calls Bitcoin ‘Another Tool’ in Fight Against China
The deputy director of the CIA, Michael Ellis, described Bitcoin and cryptocurrencies as tools for the U.S. to combat adversaries like China. He emphasized the need for the U.S. to excel in technological competition and highlighted that cryptocurrencies can be used to gather intelligence and disrupt adversaries' activities. The U.S. government has adopted a more favorable stance towards digital assets since Donald Trump's presidency, including the establishment of a strategic Bitcoin reserve. However, concerns remain about cryptocurrencies being utilized by criminals, such as North Korean hackers and drug cartels. Ellis acknowledged that while bad actors exploit cryptocurrencies, the trend of institutional adoption is positive. The U.S. government holds over 198,000 BTC, valued at approximately $19.2 billion, primarily seized from criminal activities.
