It’s No Longer a Question of If, But When: The United States and Global Bitcoin Adoption | by Joshua Moroles | The Capital | Mar, 2025

For years, Bitcoin’s critics have dismissed it as a speculative bubble, an asset with no intrinsic value, or something that governments would eventually crush. Yet, reality is proving otherwise. The world isn’t asking if Bitcoin will be a strategic reserve asset — it’s now a question of when full-scale adoption takes place.

The United States Has Entered the Game

The most significant development came on March 6, 2025, when President Donald Trump signed an executive order establishing the United States Strategic Bitcoin Reserve (SBR) and a broader Digital Asset Stockpile. This was not a symbolic gesture — it was a direct policy shift toward accumulating and holding Bitcoin at the federal level. The order also halted the auction of seized BTC, signaling that the U.S. government now recognizes Bitcoin as a long-term strategic asset rather than something to be sold off for short-term cash.

Why This Move Matters

1. National Security and Financial Sovereignty — In an era of increasing geopolitical uncertainty and global de-dollarization, Bitcoin serves as an independent, censorship-resistant reserve asset that no single nation can control.

2. Inflation Hedge — With mounting debt and concerns over the long-term stability of the U.S. dollar, Bitcoin, like gold, presents an alternative store of value.

3. Economic Dominance — Trump has repeatedly stated that he wants America to be the “Bitcoin superpower of the world.” This signals a new era where Bitcoin is no longer viewed as a threat, but as an opportunity.

Key Players Driving the Bitcoin Agenda

• Treasury Secretary Scott Bessent has hinted at creative ways to acquire Bitcoin without impacting taxpayers — suggesting strategies like revaluing gold reserves or even issuing Bitcoin-denominated debt.

• Commerce Secretary Howard Lutnick has openly embraced Bitcoin, predicting massive price appreciation due to its scarcity and global demand.

• Senator Cynthia Lummis has introduced the BITCOIN Act, aiming for the Treasury to acquire 1 million BTC over five years, ensuring the U.S. maintains a dominant position in global Bitcoin holdings.

Even Democratic Representative Ro Khanna, known for his pragmatic stance on technology, has backed the idea of holding seized Bitcoin instead of selling it, suggesting bipartisan recognition of Bitcoin’s potential as a reserve asset.

State-Level Bitcoin Reserves Are Coming

While the federal government’s move is historic, individual U.S. states are moving even faster. As of early 2025, at least 12 states have either passed or proposed Strategic Bitcoin Reserve Bills, with 18 states reportedly exploring similar policies.

Which States Are Leading the Charge?

• Texas — Bitcoin mining powerhouse Texas has proposed that miners pay taxes in Bitcoin, which would then be used to build a state reserve.

• Wyoming — A long-time crypto advocate, Wyoming is pushing to hold Bitcoin as a treasury asset, treating it like digital gold.

• Ohio, Florida, Arizona, and New Hampshire — These states have been at the forefront of pushing for Bitcoin-friendly regulations, now looking to formally integrate Bitcoin into their financial reserves.

• Even Massachusetts — Traditionally viewed as a more regulatory-heavy state, Massachusetts’ involvement shows that Bitcoin adoption is transcending political party lines.

Why States Are Moving Toward Bitcoin Reserves

1. Hedge Against Inflation — Bitcoin’s fixed supply of 21 million BTC makes it an attractive store of value.

2. Financial Independence — States accumulating Bitcoin would have an asset that’s not tied to federal monetary policy or inflation-prone fiat currency.

3. Competitive Edge — States that embrace Bitcoin early will attract more businesses, investors, and mining infrastructure.

The Global Bitcoin Reserve Race Has Already Started

While the U.S. is just now making an aggressive push, other nations have been quietly stacking Bitcoin for years.

• El Salvador — The first country to adopt Bitcoin as legal tender, El Salvador has been steadily buying BTC and even mining it using volcanic energy.

• Bhutan — This small but strategic nation has been secretly mining Bitcoin with hydroelectric power, accumulating BTC without attracting much attention.

• Russia and China — While publicly restrictive toward Bitcoin, reports indicate that both nations hold BTC reserves — either through government-controlled mining operations or as part of financial strategy.

Make no mistake: Bitcoin is no longer a fringe asset — it is becoming a core part of global reserve strategies.

Why Bitcoin? The Unique Properties That Make It a Reserve Asset

Bitcoin’s rise as a global reserve asset is not just speculation — it’s a result of its fundamental properties:

1. Immutable and Censorship-Resistant

Bitcoin is decentralized, meaning no government or central bank can manipulate its supply. Transactions cannot be reversed or censored, ensuring true financial sovereignty.

2. Scarcity (Hard Money)

Unlike fiat currency, which can be printed infinitely, Bitcoin has a fixed supply of 21 million BTC — making it the first truly scarce digital asset.

3. A Global, Borderless Asset

Bitcoin operates outside of traditional banking systems, meaning it can be transferred instantly, 24/7, anywhere in the world — whether it’s a single satoshi (0.00000001 BTC) or billions of dollars worth.

4. No Central Issuer or Control

Unlike gold (which can be confiscated) or fiat (which is controlled by central banks), Bitcoin has no issuer. It exists purely on a decentralized network.

5. Transparency and Security

Bitcoin operates on a public ledger (the blockchain), meaning anyone can verify transactions, making it the most transparent and auditable monetary system in history.

The Tipping Point Has Arrived

Bitcoin is no longer a speculative bet — it’s becoming a strategic asset at the highest levels of government and finance. If you don’t see the writing on the wall, you’re either not paying attention or refusing to accept reality.

• The U.S. is accumulating Bitcoin at both the federal and state levels.

• Countries like El Salvador and Bhutan have already started acquiring BTC through purchases and mining.

• Bitcoin’s properties make it the perfect reserve asset in an era of fiat devaluation and geopolitical uncertainty.

It’s not a question of if Bitcoin will be the dominant financial asset of the future. It’s only a question of when. The institutions, governments, and states that move first will benefit the most — while those who hesitate will be left behind.

The choice is simple: Adapt, or be left in the dust.