To understand whether the Chinese Communist Party (CCP) can weaponize Bitcoin, we must first identify what the intended targets of such a weapon would be. The first target would be the US Dollar as the dominant world reserve currency. The CCP could promote the use of Bitcoin as both a reserve asset and a global 24/7 digital settlement network. The reduction in demand for US Dollars abroad would undermine expansionary US fiscal and monetary policy, and enable US adversaries to avoid financial sanctions.
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