On March 20, investor and entrepreneur Anthony Pompliano acknowledged on Fox Information, “There’s a global race going on–Russia, Abu Dhabi, El Salvador, Bhutan–all these other countries are trying to buy Bitcoin… the same way that there was a space race there’s now a Bitcoin race.”
The thought of a Bitcoin “race” is now a actuality as world leaders actively focus on the urgency of both establishing digital asset reserves or embracing cryptocurrency as authorized tender.
El Salvador, in 2021, grew to become the primary nation to make Bitcoin authorized tender, buying over 2,000 Bitcoin as a part of a nationwide reserve to foster monetary inclusion and financial development. The transfer has been each celebrated and criticized as a consequence of Bitcoin’s volatility. Equally, in 2022, the Central African Republic grew to become the second nation to undertake Bitcoin, viewing the cryptocurrency as a instrument to enhance financial improvement and monetary inclusion in one of many world’s least developed nations.
Each international locations’ actions mirror rising curiosity in Bitcoin as a substitute monetary technique. It’s hard-capped at 21 million, and in 10 years, most of it will likely be mined.
The idea is that the international locations contemplating Bitcoin a beneficial reserve asset will attempt to ascertain as a lot possession of the entire BTC provide as potential.
Proponents imagine shortage and rising demand will drive Bitcoin’s worth, making giant BTC holders influential.
What Saylor says…
One of the outstanding Bitcoin evangelists, Michael Saylor, mentioned that 78% of the U.S. was purchased for $40 million sooner or later. The previous CEO of MicroStrategy referred to numerous land acquisitions, such because the Louisiana Buy of 1803 as an instance why the U.S. authorities can buy Bitcoin now when it’s “cheap.”
In a latest speech, Saylor referred to as the subsequent decade “a digital gold rush” and in contrast Bitcoin to the Manhattan Challenge, dubbing it “digital energy.”
“Today, Bitcoin represents the digital capital network, controlling 99% of power within the cryptocurrency ecosystem,” he mentioned. “The U.S. government recognizes only Bitcoin as legitimate digital capital. To secure the future of cyberspace and maintain global financial dominance, America must adopt Bitcoin strategically. Only Bitcoin—and U.S. Treasuries—have the liquidity and global trust required to serve as reliable reserve assets worldwide.”
No surprise Saylor has been vocally supportive of presidency officers pushing to extend the U.S.’s BTC stockpile.
President Donald Trump, Republican Sen. Cynthia Lummis, and Bo Hines, the Government Director of the President’s Council of Advisors on Digital Property, have all expressed a need to extend the U.S.’s Bitcoin reserve.
Like Saylor, Pompliano (among the many most vocal crypto advocates within the U.S.) considers the Trump administration’s concentrate on Bitcoin dominance necessary.
Talking in regards to the future value of Bitcoin, Pompliano mentioned throughout a Fox Information look that he doesn’t know when BTC will hit a million. Nonetheless, he’s seemingly assured that, like gold, its worth will enhance from the place it at the moment is at this time.
Eventually test, Bitcoin is buying and selling at simply above $84,000.
“I think people are drastically underestimating how maniacal they are going to be about buying Bitcoin,” Pompliano mentioned. “Everyone thinks it’s cute that they put 200,000 Bitcoin over here and now we have this reserve — they are going to continue to buy Bitcoin.”
Who participates within the Bitcoin race?
Other than the U.S., Pompliano named Russia, El Salvador, Bhutan, and the United Arab Emirates. Certainly, all of those international locations reportedly have Bitcoin holdings, however not essentially all of them explicitly expressed their need to purchase extra.
It isn’t fairly clear how a lot crypto Russia holds. Nonetheless, it’s identified that Russia has large-scale mining operations whereas native corporations use crypto for worldwide commerce and dodging Western sanctions.
Pompliano uncared for to say a number of main Bitcoin holders, together with China, which is the second largest BTC proprietor after the U.S.
The UK and Ukraine at the moment observe China, in line with BitBo’s Bitcoin Treasuries web page.
All these international locations have completely different methods:
- North Korea’s hackers steal lots of of hundreds of thousands of {dollars} price of crypto from crypto exchanges.
- The UK holds crypto, seized whereas dismantling a high-scale money-laundering operation.
- Ukraine grew to become a notable Bitcoin holder by donations made after the intensification of the Russian-Ukrainian battle in 2022.
- The U.S. intends to confiscate Bitcoin and crypto property from prison instances. It’s price noting that many particular person states are exploring the creation of local-level reserves.
Greater than that, some firms, most notably Technique (beforehand MicroStrategy) and asset supervisor BlackRock, are among the many world’s largest Bitcoin holders, able to competing with main nations when it comes to Bitcoin dominance. Each companies personal or handle round 500,000 Bitcoins (over 2% of the entire provide). As of March 2025, no nation holds even half that quantity.
Many international locations are opting out
European international locations have been cautious and modern of their interactions with blockchain options. As an example, Estonia is without doubt one of the world’s pioneers in adopting blockchain for elections and healthcare information administration. Nonetheless, the EU international locations take a conservative stance on the subject of crypto reserves. Excessive volatility and low liquidity are the principle causes for rejecting Bitcoin’s reserve institution.
Related causes are cited by Switzerland, South Korea, Japan, and different international locations that appear unbothered by America’s ardour for successful within the Bitcoin musical chairs sport. Germany went to this point to promote hundreds of Bitcoin.
Crypto.information requested Genius Group, an organization utilizing Bitcoin as a company reserve, how they time the market.
“As fundamental believers in the long-term potential of Bitcoin, we don’t try to time the market, but rather buy and hold with the intention of never selling,” a spokesperson responded.
Let’s assume the so-called Bitcoin race exists, as Pompliano described it. If we examine it to area or the Manhattan Challenge, we should ask ourselves: Had been the international locations that didn’t have spacecraft or atomic weapons within the twentieth century left with nothing?
