Some crypto enthusiasts, such as one major in the United States Space Force, see the potential utility of cryptocurrencies like Bitcoin (BTC) far beyond their current use as digital money, an investment asset, or a hedge against inflation.
On March 30th, Politico reported on a proposal by Major Jason Lowery, author of a master’s thesis from the Massachusetts Institute of Technology (MIT), that the United States should mine and stockpile Bitcoin as a self-defense weapon.
By utilizing energy to produce computer estimates, players in the fake Proof-of-Work (PoW) cyber antlers competition would compete to broadcast the next block of transactions and the network coins associated with that block’s creation.
Like in a real-world chess game, the victor would rise to prominence within the dispersed computer network responsible for assigning rights to intangible property without resorting to physical force.
If Major Lowery’s plan for a Bitcoin-mining-based defense strategy were to be approved at a higher level, it would have far-reaching consequences for the cryptocurrency industry, helping to accelerate the broad uptake and approval of digital assets across markets and sectors.
Since U.S. authorities actively seek to impose strict supervision and spearhead lawsuits against crypto businesses like Ripple (a blockchain company) and Binance (a cryptocurrency exchange), it’s hard to say how well this proposal would go with high-ranking government officials.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.