Bitcoin Adoption Prospects By US Department of Defense
A U.S. Space Force officer has proposed that the U.S. Department of Defense (DoD) should consider adopting Bitcoin as a strategic offset to prevent cyberattacks. Major Jason Lowery believes that Bitcoin and other proof-of-work (PoW) protocols have significant potential in defense and cybersecurity. He has written an open letter to the DoD Innovation Council, urging them to explore the applications of Bitcoin and its underlying technology. This recommendation has garnered attention from experts and market participants.
Ark Invest CEO Cathie Wood sees the adoption of Bitcoin by the Defense Department as a proof of concept for the cryptocurrency’s potential in cyber warfare and defense. She considers it a significant development.
John Deaton, a prominent figure in the crypto community and lawyer for XRP holders, also supports the idea of the DoD embracing Bitcoin. He believes it will be bullish for Bitcoin and other PoW cryptocurrencies.
BTC Price Surpasses $41,000
The price of Bitcoin (BTC) has surged above the psychological level of $40,000 with strong trading volumes. Analysts predict that Bitcoin could reach $45,000 by December.
In the past 24 hours, BTC price has increased by over 5%, currently trading at $41,446. The 24-hour low and high are $39,386 and $41,525 respectively. Additionally, trading volume has risen by 40% in the last day, indicating growing interest from traders.
Hot Take: The Potential Impact of Bitcoin Adoption by US Department of Defense
The recommendation for the U.S. Department of Defense to adopt Bitcoin as a strategic offset against cyberattacks has sparked discussions about the broader applications of cryptocurrencies in defense and cybersecurity. This move is seen as a significant step towards mainstream acceptance of Bitcoin and proof-of-work protocols. If the DoD embraces Bitcoin, it could have positive implications for the cryptocurrency market and bolster its credibility as a tool for national security. It remains to be seen how this proposal will unfold, but it has certainly captured the attention of experts and investors alike.
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