A U.S. Space Force officer recommended the U.S. Department of Defense (DOD) to adopt Bitcoin as an offset strategy to prevent cyberattacks, investigating the national strategic importance of PoW systems. This grabs major attention from the markets and experts such as Ark Invest CEO Cathie Wood and pro-XRP lawyer John Deaton.

Bitcoin Adoption Prospects By US Department of Defense

U.S. Space Force Major Jason Lowery put forward a novel view of Bitcoin, extending its importance far beyond the financial field to the defense and cybersecurity areas, as per an open letter to the U.S. Department of Defense (DoD) Innovation Council.

Lowery believes that Bitcoin and similar proof-of-work (PoW) protocols are of great strategic importance, urging the government to delve deeper into their potential applications. Bitcoin and its underlying technology can serve as a contemporary tool for “offset strategies”.

The global markets including the crypto market reacted to Bitcoin adoption prospects by the US DOD. Experts have pointed out broader use cases of Bitcoin.

Ark Invest CEO Cathie Wood noted that the Defense Department adopting Bitcoin as an ‘offset strategy’ has potential in cyber warfare and defense. She said it’s a “significant proof of concept for Bitcoin!”

John Deaton, a major voice in the crypto community and lawyer representing 75,000 XRP holders, also reacted to U.S. Space Force Major Jason Lowery urging the U.S. Department of Defense (DoD) for Bitcoin adaption. It will be a bullish case for Bitcoin and other PoW cryptocurrencies.

Also Read: Bitcoin (BTC) Price Smashes Past $41,000 First Time in 18 Months, What’s Next?

BTC Price Smashes $41000

Bitcoin (BTC) price has smashed past the $40,000 psychological level with strong trading volumes. Bitcoin price is predicted to hit $45,000 in December.

BTC price jumped over 5% in the past 24 hours, with the price currently trading at $41,446. The 24-hour low and high are $39,386 and $41,525, respectively. Furthermore, the trading volume has increased by 40% in the last 24 hours, indicating a rise in the interest of traders.

Also Read: Ethereum (ETH) Price Gives A Strong Breakout Above $2,200, Next Target $3,500

The post Breaking: US Space Force Urges Bitcoin Adoption To US DOD, Cathie Wood And & Deaton Reacts appeared first on CoinGape.

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Filed under: News - @ December 4, 2023 6:26 am