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Michael Ellis, deputy director of the Central Intelligence Agency (CIA), recently shared his thoughts on Bitcoin
$94,395.50
and other cryptocurrencies.
Speaking on Anthony Pompliano’s podcast on May 1, Ellis explained that these digital assets can help the US stay ahead in global technology competition, especially against China.
Ellis stated, “It’s another area of technological competition where we need to make sure the United States is very well positioned against China and other adversaries. He added that “Bitcoin and other cryptocurrencies are another tool in the toolbox”, but “also a target”.
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Ellis explained that digital assets could serve two purposes. They can help US intelligence services collect valuable information, and at the same time, they offer a way to disrupt activities by foreign enemies. Since cryptocurrencies record all transactions publicly, Ellis suggested they create new opportunities for tracking illegal or suspicious money movements.
However, Ellis also noted that crypto is not only used by governments and businesses. It is also popular among criminal groups, including drug cartels, terrorist organizations, and hostile states. He mentioned that hackers linked to North Korea often rely on cryptocurrency to move stolen money.
Despite the risks, he stated, “Bitcoin is here to stay, cryptocurrency is here to stay, as you know more and more institutions are adopting it, and I think that’s a great trend”.
Recently, Greg Cipolaro, head of research at New York Digital Investment Group (NYDIG), shared his views on Bitcoin during periods of market stress. What did he say? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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