Michael Saylor Advocates for US Bitcoin Reserve Strategy
”Bitcoin is not just a currency; it is the basis for the new economies of the future,” he said. This view aligns with his proposal for including Bitcoin in the country’s strategic reserves
During a CNBC interview, MicroStrategy executive chairman Michael Saylor supported the idea of the US having a strategic reserve of Bitcoin (BTC), pointing out the advantages of such a move for nations and companies. He stated that Bitcoin is a stable digital asset that can radically shift the paradigms of economic strategies.
Michael Saylor Champions US Bitcoin Reserve Plan
He pointed to the Bitcoin 2024 conference in Nashville as a critical event for the sector, underlining the increased adoption of cryptocurrencies. Michael Saylor noted that the conference attracted such high-profile individuals as presidential candidates and CEOs, which, in his opinion, indicates that a significant change in the industry has occurred.
Also, Saylor appreciated the recent development of Senator Cynthia Lummis’ Bitcoin reserve bill in the Senate. He compared this legislative action to other key economic actions in the country’s history, including the Louisiana Purchase, stating that it could have the same impact on the country’s financial system. The bill suggests forming a Bitcoin reserve to fight national debt with an annual purchase of 200,000 BTC for the next five years.
Saylor Advocates Bitcoin for National Reserves
Michael Saylor focused on the inherent nature of Bitcoin and said that it is a scarce and valuable asset similar to owning prime real estate.
”Bitcoin is not just a currency; it is the basis for the new economies of the future,” he said.
This view aligns with his proposal for including Bitcoin in the country’s strategic reserves, arguing that it is suitable for storing value for extended periods due to its scarcity.
