Bitcoin

1/ Would it make sense for the US or China to mine Bitcoin to protect their bags?

At first glance, yes. Big holders want to defend their asset.

But dig deeper, and it’s not so simple.

Here’s a breakdown of the incentives, tradeoffs, and why this approach might break Bitcoin 🧵👇

#Bitcoin $BTC

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3/ It sounds rational.

✅ @drakefjustin  says today’s Bitcoin security budget is fragile which is only 6.5 BTC/day in fees.

https://x.com/drakefjustin/status/1928025981270519924?s=46

✅ A permanent 51% attack could cost ~$20B in hashpower.

✅ For a $200T market, that’s cheap defense.

✅ US defense budget = $800B/year

4/ And there’s precedent:

- Governments already protect financial assets:

- Central banks stabilize currencies

- China pegs the yuan

If Bitcoin becomes systemic, state mining might look like financial hygiene.

2/ The idea: If Bitcoin hits $1M or $10M, it becomes a $20T–$200T asset.

If governments or whales hold large amounts, they should want to secure it.

That means preventing 51% attacks, censorship, or network collapse.

So… run your own miners, right?