From what I'm reading, it appears many other nations have had enough of importing US inflation. Nations want a new system, however as we know with gold, there is a level of trust required (example, historically no country will allow another to audit their reserves) and the portability of gold is awful, enter paper promises.
Bitcoin is primed to take over the base layer. This is where America, (FYI, I am not American) has an epic opportunity to maintain their financial supremacy. If the US;
- were currently acquiring as much Bitcoin as they could without it being obvious
- in 4, (or more) years time announced they will conduct nation trade using Bitcoin
Would this not essentially rug pull all those nations and central banks trying to fill their coffers with gold? Making the assumption that nations would adopt this new standard and not tell the US to pound salt.
To further support why I believe nations would adopt a Bitcoin base layer. Saudi Arabia appears to be preparing for this possibility, putting billions into the BTC mining sector. Along with many other nations. Pro-Bitcoin politicians are popping up all over the globe. If crazy Max Keiser is being truthful, he states there are "Three nations in LATAM to make Bitcoin legal tender in early 2024" Source. There are many more examples of nations waking up to a potential Bitcoin future.
Many of us know the famous words, "Bitcoin is for everybody, and have heard it referred to as "money for frenemies" Observing this map shows China and Russia are contributing greatly to the mining hashrate, Because of this, could we assume these nations would consider adopting a Bitcoin international trade standard?
If America pulled this potential play off, not only could they continue to be the financial kings of the globe, they could also potentially avoid this massive debt spiral they are entering, as many state ,"the US is past the debt event horizon"
I'd love to hear your thoughts on this topic, what am I potentially missing here playing out a bit of game theory?
Edit: to clarify, I'm not saying This Will Happen merely stating, there is an opportunity here
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