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Michael Saylor, founder of MicroStrategy, believes the United States should take a major role in Bitcoin
$96,419.54
ownership.
Speaking at a CPAC conference in Washington, DC, on February 20, he suggested the country should aim to acquire 20% of the total Bitcoin supply, arguing it would strengthen the economy and help manage national debt.
Saylor stated, “There’s only room for one nation-state to buy up 20% of the network, and obviously, I think it should be the United States, I think it will be the United States”.
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He emphasized how quickly the government could act, adding, “The US could own 20% of the (Bitcoin) network like that. The dollar would strengthen, the nation would be enriched, and the real promise is if you own 4-6 million BTC, you’re going to pay off the national debt”.
Saylor warned that failing to act could allow other nations, including China, Russia, or Saudi Arabia, to gain control instead. At current market prices, acquiring 20% of Bitcoin’s circulating supply—around four million coins—would cost about $392 billion.
When asked if other cryptocurrencies should be included in a US reserve, Saylor focused only on Bitcoin. He explained that the cryptocurrency has no central issuer and cannot be controlled or changed by any company, government, or individual.
Recently, 12 US states held a combined $330 million in Strategy stock, according to Bitcoin analyst Julian Fahrer. How was this achieved? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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