US President Donald Trump is pursuing the goal of transforming the United States into a 'Bitcoin superpower,' though it appears other countries aren't racing alongside. While Trump's administration has set up a 'strategic Bitcoin reserve,' many of the US's major trade partners, including the EU, China, and Canada, have shown less enthusiasm for institutionalizing Bitcoin.

Critics of the strategic Bitcoin reserve question its long-term benefits and financial risks. Economic experts express concerns about the potential financial burden on taxpayers and its uncertain impact on national debt. Even within the crypto community, criticism arises over the reserve's 'hold only' policy.

The US faces minimal competition as allies and rivals like the EU and China have adopted cautious approaches to Bitcoin. European regulatory frameworks offer less favorable terms than emerging US legislation, while China focuses on developing its digital currency rather than embracing Bitcoin as a reserve asset.

Despite skepticism, the possibility of a rising global interest in Bitcoin reserves remains. Countries such as Brazil are considering similar reserves, and political shifts in Europe hint at a more crypto-friendly future. The long-term implications of the US Bitcoin reserve and its effects on adoption and pricing are yet to be seen.