New Global Race Has Started
The US's definition of Bitcoin as a strategic reserve asset has dragged global powers into a new race. China and Russia are developing Bitcoin strategies to strengthen their dominance in the financial system with their economic size and huge gold reserves. This has initiated a search for a new balance in the global crypto market.
US Move and Global Effects
The strategic Bitcoin reserve decree signed by US President Donald Trump shows that digital assets are now officially considered an element of financial power. The US Treasury Secretary announced that the government will keep the Bitcoins in its possession as reserves and that no sales will be made. This step is seen as one of the most concrete moves taken towards making Bitcoin an official store of value in the global financial system.
China and Russia's Counter Move
In response to the US's Bitcoin move, China and Russia are reviewing their own reserve policies to protect their financial sovereignty. Although China, as one of the largest players in the world economy, is working on digital yuan projects, it has realized that completely ignoring Bitcoin would be a major strategic mistake. Officials from the Central Bank of China say that Bitcoin should be considered a strategic asset similar to gold and could be used as an official reserve in the future.
Russia, on the other hand, has been increasing its gold reserves for years in order to reduce its dependence on the dollar. Now, it plans to implement a similar strategy for Bitcoin. Officials from the Russian Ministry of Finance state that Bitcoin can be an important means of payment in global trade in the long term and that holding it in reserves will strengthen the country's financial independence.
Comparison of Gold Reserves and Bitcoin
China has approximately 2,200 tons of gold reserves, while Russia has over 2,300 tons. The US's gold reserves are at 8,100 tons. However, since Bitcoin's supply is limited, it is not an asset that can be printed or reproduced like gold. For this reason, Bitcoin has begun to be seen as a stronger store of value than gold, with its scarcity and decentralized structure.
Economic Power Comparison
USA: The world's largest economy at $27 trillion
China: The world's second largest economy at $17.5 trillion
Russia: Smaller at $1.8 trillion but a strategic actor with its energy and natural resource power
These three giants control a large portion of the global economy. However, Bitcoin's scarcity could make it even more valuable than gold. The BTC supply, which is limited to 21 million, has the potential to be a reserve asset that central banks can prefer in the long term, as it cannot be printed or reproduced like gold. China and Russia's plans to create a Bitcoin reserve could challenge the US's superiority.
Global Crypto Race Heats Up
The US's Bitcoin move has also mobilized other major economies. China and Russia's attempts to create a Bitcoin reserve could cause a reshuffling of the cards in the global financial system. If China and Russia add Bitcoin to their official reserve assets, this would be the beginning of a new economic era on a global scale.
As Bitcoin plays a critical role in the global power struggle as digital gold, it will become clear in the coming years which country will be ahead in this race. However, one thing is certain: The crypto market has become a competitive area not only for investors but also for states.
Author: Besim Şen
