Bank of America has been approved to trade Bitcoin, marking a new phase in cryptocurrency policy. Currently, the United States is a global leader in both Bitcoin holdings and stablecoin issuance, and this policy shift will further consolidate its market dominance.
From a strategic perspective, this move will have multiple impacts. First, the direct participation of traditional financial institutions will bring unprecedented incremental funds to the crypto market, pushing Bitcoin to become a more mainstream asset class. Secondly, by deeply binding the core financial system with the crypto ecosystem, the United States effectively controls the pricing power and rule-making authority of the global crypto market. Finally, as the banking system embraces Bitcoin, the U.S. can both enjoy the asset appreciation brought by its market value increase and maintain monetary influence through the U.S. dollar stablecoin system.
This policy choice may seem sudden, but it actually aligns with its long-term interests, balancing risk management and strategic gains while maintaining a leading position in financial innovation by bringing crypto assets into a controllable regulatory framework. It is foreseeable that other countries will face pressure to either follow suit or seek alternative policy paths.
