The United States should take the opposite position to China and buy Bitcoin, said Blake Masters, chief operating officer of Thiel Capital.
China banned cryptocurrency last week.
Let’s do the opposite. The US government should buy a strategic reserve of Bitcoin — Fort Nakamoto, the new Fort Knox.
Related: my U.S. Senate campaign now accepts BTC donations. DM me or write bgm@blakemasters.com for info & to donate.
— Blake Masters (@bgmasters) September 27, 2021
«Let’s do the opposite. The US government should buy a strategic reserve of Bitcoin — Fort Nakamoto, the new Fort Knox», — he wrote.
Masters is a Republican and the Senate candidate for Arizona. He said supporters can donate to his campaign in digital gold.
Earlier his fellow Republican, Senator Pat Toomey, called China’s crackdown on the cryptocurrency industry ‘a big opportunity for the US’.
Circle CEO Jeremy Allaire urged Washington not to imitate Beijing and oppose it, upholding the values of the ‘open internet’.
On September 24, the National Development and Reform Commission of China pointed to the negative environmental impact of mining and its ‘insignificant’ contribution to the country’s economy.
The People’s Bank of China described as illegal the activities of platforms that facilitate the exchange of digital assets among themselves or into fiat.
Previously, regulator spokesman Wen Xinxian described cryptocurrencies and stablecoins as a threat to the traditional financial system.
Against this backdrop, Binance and Huobi halted onboarding of new users in mainland China, and Alibaba announced a ban on selling Bitcoin miners on its platform.
The largest Ethereum mining pool, SparkPool announced it would cease servicing Chinese users, and subsequently halt operations outside the country.
In late September, the media reported the blocking of CoinGecko and CoinMarketCap analytics services on mainland China.
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