- Michael Saylor asserts that Bitcoin’s immutable design safeguards wealth from fiat manipulation.
- He argues that a 20% reserve in the US would bolster the dollar’s strength.
This week, Michael Saylor spoke at the Conservative Political Action Conference, praising Bitcoin as a guardian of national economic stability.
He began his address with the assertion, “Bitcoin represents the most potent technological force for conservatism globally.”
Saylor highlighted that Bitcoin’s fundamental characteristics — its fixed supply and decentralized architecture — embody principles of “integrity” and “sovereignty.”
These attributes, he remarked, turn digital currency into what he describes as “economic armor.”
He expressed concerns about the weaknesses of fiat currencies, stating, “What freedom do you possess if your wealth is tied to a currency that can be quadrupled without your consent, reducing it to nothing?”
He elaborated that existing systems allow centralized bodies and governments to manipulate the money supply, freeze accounts, and enforce limits.
Saylor then called for a national transformation. “The US could possess 20% of the network practically for free. This would enhance the dollar and enrich the nation.”
This proposal aligns with his own firm’s strategy.
Strategy, formerly known as MicroStrategy, currently holds nearly 480,000 Bitcoin — a clear example of what is known as the “Saylor effect.”
This strategy has reignited discussions around the idea of a US Bitcoin Strategic Reserve.
The concept is gaining support from lawmakers, including Senator Cynthia Lummis, who advocates it as a safeguard against the country’s substantial fiscal deficits.
Crypto market movers
- Bitcoin has seen a 2% decline in the past 24 hours and is currently priced at $96,200.
- Ethereum has dropped 2.8% during the same timeframe, now at $2,680.
What we’re reading
Kyle Baird serves as DL News’ Weekend Editor. Have a tip? Email [email protected].
