The CIA’s Deputy Director describes Bitcoin as a resource in the technological competition with China.
In a recent interview on Anthony Pompliano’s podcast, Michael Ellis, who has served as the CIA’s Deputy Director since February, referred to Bitcoin and other cryptocurrencies as “another tool in the toolbox” that the United States can leverage in its confrontation with adversaries, particularly China.
Ellis stated:
“It represents another field of technological competition where we need to make sure the United States is well positioned relative to China and other adversaries.”
According to the official, Bitcoin is not only a defensive tool but also “a target” in intelligence operations.
Ellis explained that the agency can both “disrupt adversaries’ use of cryptocurrencies” and “employ these technologies to gather more information about them.”
However, concerns persist regarding the use of digital assets by criminals to evade law enforcement controls. Ellis acknowledged that cryptocurrencies are among the preferred resources for bad actors, such as North Korean hackers.
“Bad actors whether they’re drug cartels or terrorist groups or outlaw regimes use cryptocurrency but they use other tools as well,” Ellis clarified, adding: “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.”
U.S. government agencies frequently collaborate with blockchain analytics firms to track the use of cryptocurrencies by cybercriminals.
