The cryptocurrency industry is lobbying President-Elect Donald Trump and incoming administration officials to buy billions of dollars worth of bitcoin for a national crypto stockpile, according to reporting and policy proposals which was obtained by The New York Times.

The proposals, drafted by the Bitcoin Policy Institute for Trump officials, say that such a stockpile can protect the country from economic volatility and drive investment in renewable energy. But the point they emphasize is that if the US buys a lot of bitcoin it will be able to “hold the line” of the Western-led global order and counter China’s economic power and geopolitical influence.

“Bitcoin will enhance the global reach of the dollar network, especially in emerging markets, where the long arm of China’s digital authoritarianism seeks to gain traction,” according to a BPI report titled “A ‘Global Economic Reordering’ US-China Competition and Bitcoin as Tool of US Statecraft,” aimed specifically at Scott Bessent, Trump’s pick for Treasury Secretary.

After a long rundown of all the ways the US has fallen behind China, the report suggests creating a Strategic Bitcoin Reserve of 1 million coins and outlines a series of projections on what way the US can use the fund to exercise political influence if the value of the currency rises from its current rate of just over $100,000 per bitcoin to between $500,000 and $1.5 millions per coin.

A second BPI policy brief also talked about how a large investment in bitcoin could counter China but not limit the list of enemies, saying that the US needs to cement its crypto leadership and global influence “before the autocrats and entrepots in the Middle East and Asia will seize the initiative.”

The BPI claims that its proposals are not motivated by a desire to enrich existing bitcoin holders.

“The government’s strategic adoption of bitcoin is not about rewarding private holders,” the group wrote in a report. “It’s about the national interest: protecting US financial leadership, ensuring economic stability, and countering adversaries’ actions. The benefits of bitcoin holders are secondary to the broader purpose of securing America’s place in global financial system.

The Times reported that BPI proposals calling for a strategic stockpile were matched by personal lobbying efforts by crypto executives and even Senator Cynthia Lummis (R-WY).

Trump floating the idea in a stockpile of bitcoin while on the campaign trail and vowed to make the US a “bitcoin superpower.” He also appointed cryptocurrency supporters to top government posts, including Paul Atkins, his choice for chairman of the Securities and Exchange Commission.

Last week, the Department of Justice received clearance to sell $6.5 billion amount of bitcoin it got from criminals.