CIA Deputy Director: Bitcoin a Battleground with China

Michael Ellis, Deputy Director of the CIA, views Bitcoin as a critical arena in the US's strategic competition with China. In a recent podcast, Ellis highlighted Bitcoin's dual nature, stating, "Bitcoin is both a tool for competition and a kind of target." He emphasized the importance of the US gaining a "high ground" in this technological race. Ellis believes the US can leverage Bitcoin both offensively and defensively. This includes preventing adversaries from exploiting the technology and utilizing it to gather intelligence. He acknowledged the growing acceptance of Bitcoin, stating, "Bitcoin and cryptocurrencies will exist forever. More institutions are accepting Bitcoin. Personally, I think this is a very good trend." The CIA's focus underscores the increasing significance of cryptocurrencies in global power dynamics and national security considerations. Ellis's statements suggest a proactive approach to navigating the evolving landscape of digital currencies. ```