Originally published on: November 27, 2024
MARA Holdings, a leading crypto miner, is calling for the United States to act swiftly and aggressively to secure dominant positions in Bitcoin and Bitcoin mining, citing national security concerns.
In a recent statement, MARA emphasized the urgent need for the US to take the lead in holding Bitcoin, similar to its approach with gold. With the growing trend of de-dollarization, where countries are reducing reliance on the US dollar, MARA believes that the US must secure its economic and national security interests by prioritizing its Bitcoin holdings.
According to MARA, the US currently holds just over 200,000 Bitcoin, slightly ahead of China’s 190,000 BTC. In comparison, the US has significantly more gold reserves than China, with 8,133 metric tonnes versus China’s 2,264 tonnes.
As speculation arises about countries building Bitcoin reserves ahead of potential geopolitical shifts, MARA stresses the importance of the US establishing dominant positions in Bitcoin and Bitcoin mining. The company’s CEO, Fred Thiel, has warned of the growing hashrate power from China and Russia, highlighting the need for the US to control a substantial share of the global hashrate.
To address this threat, MARA has proposed a comprehensive plan, including initiatives to boost domestic production of mining hardware, increase investment in US Bitcoin mining, establish a Bitcoin strategic reserve, and set global standards for decentralized networks. These measures aim to ensure that the US remains at the forefront of the rapidly evolving crypto landscape.
MARA, formerly known as Marathon Digital, was founded in 2010 and is headquartered in Fort Lauderdale, Florida. With operations across the US and joint ventures in Paraguay and Dubai, MARA is positioned as a key player in the crypto mining industry.
As the debate over Bitcoin’s role in global finance continues to unfold, MARA’s advocacy for the US to secure dominant positions in Bitcoin mining underscores the increasing importance of cryptocurrencies in shaping national security and economic policies. Stay tuned for updates on this developing story.
