Strategy Founder Michael Saylor Wants US to Buy 20% of the Bitcoin Supply
Michael Saylor, co-founder of MicroStrategy, suggested at the CPAC conference that the U.S. should purchase 20% of the Bitcoin supply, estimating that acquiring 4 to 6 million BTC could help alleviate national debt. He argued this would strengthen the dollar and prevent rival nations from accumulating significant Bitcoin reserves first. Saylor noted the U.S. government could quickly amass these assets, referencing its capability to issue an unlimited supply of dollars through Treasuries. While a few U.S. states are considering Bitcoin reserves, skepticism remains about the practicality of Saylor's proposal. Critics argue that Bitcoin does not meet the criteria for a strategic reserve asset. Some experts believe that a significant U.S. Bitcoin reserve could undermine the dollar's status as the world's reserve currency, inviting geopolitical risks. Despite ongoing support for Bitcoin accumulation by figures like Saylor, doubts linger regarding the feasibility and benefits of such a national stockpile.
Source 🔗