From Cointelegraph

March 21, 2025 11:43 am:

US President Donald Trump aims to make America a “Bitcoin superpower,” positioning the country as a leader in crypto adoption. However, the competition remains unclear. While the US has established a “strategic Bitcoin reserve,” other major countries like China and the EU have not embraced Bitcoin for reserve assets, raising questions about who the US is competing against in this race.

Compared to US allies and trade partners, the US is ahead in Bitcoin adoption, with countries like China and the EU taking a more cautious approach. China, the US’ largest trade partner, initially banned Bitcoin but now allows mining operations while strictly prohibiting its use. The EU has passed legislation but offers less favorable terms for the industry compared to the US.

Critics question the strategic value of the US Bitcoin reserve, arguing that it primarily benefits Bitcoin holders and exposes taxpayers to financial risks. The reserve, aimed at paying off national debt, has faced skepticism from experts who doubt its effectiveness. Even Bitcoin proponents have criticized the reserve’s approach, highlighting its limitations and lack of impact on Bitcoin’s price.

The US Bitcoin reserve has not significantly impacted Bitcoin’s price, leading to skepticism about its effectiveness and long-term benefits. While the US is leading the race to become a “Bitcoin superpower,” other countries may quickly catch up. As right-wing parties in Europe show interest in creating Bitcoin reserves, and countries like Brazil consider similar moves, the global landscape of Bitcoin adoption could shift rapidly.

Read more at Cointelegraph: Who’s running in Trump’s race to make US a ‘Bitcoin superpower?’