Deconstructing the Geopolitics of Crypto-currency: The Impact of Bitcoin on Global Economic Power Dynamics

Abstract

This paper explores the geopolitical implications of Bitcoin through the lens of Critical Discourse Analysis (CDA), focusing on how narratives surrounding the crypto-currency reshape global economic power dynamics. Utilizing Norman Fairclough’s three-dimensional CDA model, the study analyzes policy documents, media content, and institutional discourse from 2017 to 2024 to examine how Bitcoin is constructed, resisted, and legitimized across different geopolitical contexts. Theoretically grounded in post-structuralist conceptions of power, discourse, and ideology, the analysis reveals Bitcoin as both a financial innovation and a strategic geopolitical tool. Key findings indicate that Bitcoin adoption reflects divergent national interests: while El Salvador and Pakistan leverage Bitcoin for financial inclusion and digital innovation, countries like China enforce strict controls to protect monetary sovereignty. Institutional developments such as the U.S. SEC’s approval of Bitcoin ETFs and the Trump administration’s Strategic Bitcoin Reserve underscore Bitcoin’s ascent as a tool of statecraft. However, the energy intensity of Bitcoin mining raises significant environmental and regulatory concerns. The study concludes that Bitcoin is central to an emerging multipolar digital economy and recommends the creation of multi-stakeholder governance frameworks, inclusive regulation, and sustainable technological practices to ensure equitable integration of crypto-currencies in global finance.