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WASHINGTON, DC - Since assuming office, President Donald Trump has signed a number of executive ... More orders to establish the United States as a world leader in crypto innovation. The White House's positive approach to digital assets has sparked a flurry of new policy ideas, including bitcoin-linked Treasury bonds. (Photo by Anna Moneymaker/Getty Images)
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Many technologies that change the world don’t start that way—they start as toys. This makes them easy to dismiss when they first appear.
History offers several examples: Before the Chinese used gunpowder for weapons, they used it for firecrackers. Before the Aztec learned from the Spanish how to leverage the wheel, they used it only for small playthings and figurines. And before the United States began building military-grade drones that revolutionized the battlefield, hobbyists used them for wildlife photography, FPV racing, and other forms of recreation.
The point: Paradigm-shifting technologies exist all around us—but the paradigm doesn’t shift without a little push.
That push appears to be happening now with bitcoin.
What started as “magic internet money” for cypherpunks and online gamblers has become a force multiplier for financial planners, CEOs, and most recently, US policymakers.
President Trump’s establishment of a strategic bitcoin reserve last month is a case in point.
The President’s “crypto executive order” marked a watershed moment for digital assets: where forward-thinking policymakers once saw bitcoin as a threat to the dollar, many now see it as a companion. Advocates like Senator Cynthia Lummis, for example, believe a strategic Bitcoin reserve could halve the national debt by 2045.
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