Originally published on: November 27, 2024
MARA Holdings, a prominent crypto miner, is calling on the United States to take swift action in securing dominant positions in Bitcoin and Bitcoin mining to protect national security interests. In a recent communication, MARA emphasized the urgency for the US to establish a strong foothold in the world of cryptocurrency, akin to its approach with gold reserves.
Highlighting the growing trend of de-dollarization worldwide, MARA stressed the importance of the US leading the way in Bitcoin adoption. With the dollar no longer backed by gold, the miner pointed out that significant reserves of the digital currency can serve as a crucial asset for the country’s financial stability and independence.
According to MARA, the US currently lags behind China in Bitcoin holdings, despite leading in gold reserves. To address this imbalance, MARA proposed a strategic plan that includes enhancing domestic production of mining hardware, investing in US-based Bitcoin mining operations, and establishing a Bitcoin strategic reserve.
CEO Fred Thiel of MARA has raised concerns about the increasing hashrate power held by China and Russia, underscoring the need for the US to bolster its position in the global Bitcoin network. By controlling a substantial share of the hashrate, the US can safeguard its transactions from potential manipulation by foreign entities.
In addition to advocating for regulatory clarity and incentives for Bitcoin miners and investors, MARA has called on the US to set global standards for decentralized networks. By taking proactive measures to secure Bitcoin dominance, MARA believes the US can mitigate external pressures and retain its position as a key player in the cryptocurrency space.
As the crypto landscape continues to evolve, MARA’s push for US action in the Bitcoin market highlights the critical intersection of financial and national security interests. With the potential for Bitcoin to shape the geopolitical landscape, MARA’s call to arms underscores the importance of seizing opportunities in the rapidly expanding digital asset market.