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Samson Mow, CEO of Bitcoin 
$103,632-focused technology company JAN3, stated that the United States’ strategy to increase its Bitcoin reserves plays a crucial role in international competition. According to Mow, the Strategic Bitcoin Reserve created from Bitcoin seized by the U.S. government accelerates the digital asset race among nations. He noted that some stakeholders question the functionality of this reserve and suggested that the quantity of Bitcoin held by the U.S. may be lower than previously estimated, with China potentially leading with 194,000 BTC.
Debates Around U.S. Bitcoin Reserves
In his social media posts, Mow indicated that the U.S. Bitcoin reserve might consist of 112,000 BTC or less, a figure that falls short of earlier predictions. The reserve, primarily consisting of confiscated assets, raises questions about its functionality. He responded to these concerns by arguing that the reserve is critical for national security and economic strategy.
The 95,000 BTC seized by the U.S. following the 2016 Bitfinex incident, where 119,754 BTC were lost, forms a significant portion of the reserve. However, the potential return of these BTC could directly impact the reserve’s size. Mow mentioned that this uncertainty is shaping the U.S. plans for expanding its reserves.
Bitcoin Strategies in Global Competition
Mow suggested that the Bitcoin competition between the U.S. and China could alter global economic balances. He pointed out that with 194,000 BTC, China might possess the largest reserve, while the U.S. is accelerating oversight and new confiscation processes to bolster its reserves. It is observed that both countries adopt different approaches in managing digital assets.
According to Mow, the manner of managing reserves is as vital as their size. The possibility of the U.S. using its Bitcoin as a strategic weapon might compel other nations to take similar actions. This situation holds the potential to create both opportunities and fluctuations in the cryptocurrency market.
