Nokia CEO warns of the risk of a "tech cold war": Bitcoin and Ethereum may become decentralized safe havens

January 29 News, Nokia’s new CEO Justin Hotard publicly warned that the West is pushing a “self-directed and self-perpetuated technological Cold War,” which directly conflicts with the reality of borderless digital networks like Bitcoin, Ethereum, and others. He pointed out that in an era where technological cycles determine success or failure, no company can rely solely on a single continental market; “scaling must be built on cross-regional cooperation.”

This statement comes as the EU is strengthening restrictions on Chinese 5G equipment. Brussels plans to revise the EU Cybersecurity Law, requiring operators to gradually phase out equipment from vendors deemed “high risk” within 36 months. EU Tech Affairs Commissioner Henna Virkkunen sees this as a key step toward enhancing technological independence. However, against the backdrop of the US fully restricting Chinese telecom companies, Nokia, Ericsson, and Samsung have almost become the main choices for Western network construction, further concentrating mutual dependencies in the supply chain.

Justin Hotard emphasized that there is deep market linkage among large US and European companies, and any attempt to “decouple” would weaken innovation speed and increase costs. Chinese companies criticize these policies as violating principles of fairness and non-discrimination. The resulting technological sovereignty game is accelerating the fragmentation of the global network system.

In contrast, the decentralized nature of cryptocurrency networks stands out. Currently, Bitcoin fluctuates around $88,000, Ethereum remains in the $2,900 range, and Solana has also experienced a mild rebound. Digital assets flow on-chain in real-time, unrestricted by individual countries or regulatory boundaries, representing an alternative technological paradigm to counter geopolitical fragmentation.

As countries compete over who has the right to build the next-generation internet backbone, permissionless blockchain networks demonstrate a different path: data and value can move freely across borders. For investors, the tension between the split of traditional tech camps and the open structure of the crypto ecosystem is becoming a new macro variable. As discussions of a “tech Cold War” heat up, the significance of digital assets as cross-regional value channels may become even more prominent.