China has time and again revealed its inclination towards digital assets. However, the United States of America has been extremely stringent with regard to the crypto market. Just when the crypto-verse is growing in terms of popularity as well as price, several individuals across the globe have started to view the crypto industry as a promising investment portal. However, the strict laws imposed by the American government has made it difficult for the citizens of the country to invest in the asset.
Anthony Pompliano, appearing in a recent interview with CNBC’s Squawk Box, pointed out how the US could lag behind in the financial race if it did not embrace Bitcoin [BTC]. Speaking at the Nixon Seminar, prominent investor Peter Thiel suggested how Bitcoin could be thought of as a “Chinese financial Weapon against the US”. While Thiel speculated that this could undoubtedly threaten the US Dollar, Pomp went on to agree to the same.
China Getting Ahead In The Financial Race?
With the fast-paced development of the digital yuan, China had already established its dominance. While the US is still lagging behind in the development of the CBDC, embracing crypto could possibly help the country stay ahead in the game, the community speculates.
Elaborating on Thiel’s recent statement, Pomp stated,
“Everyone in the world has an opportunity to use this, just like the internet. And so, just because other countries, maybe adversarial or not to the United States, are going to use it, it doesn’t mean [Thiel] is taking an anti-Bitcoin stance. Actually, it’s quite the contrary.”
Further dismembering Thiel’s comment, the Morgan Creek Digital co-founder suggested that the US could fall back in the “global competition” which would further push other countries like China to use this to “destabilize or financially attack the United States.”Additionally, he added that America was required to “be the leader” and embrace crypto in order to retain its place on the top.
“What we need is for the United States to be the leader here. We need to embrace this, so we need to make sure that we use this technology to continue to be a leader on the global stage.”