Noted Bitcoin advocate Michael Saylor asserts that the US government should acquire 20% of the existing BTC supply.
During his address at the Conservative Political Action Conference (CPAC) this week, the executive chairman of Strategy emphasized that BTC represents digital property and is crucial for the US in order to “control cyberspace” in the years ahead.
“Currently, you can essentially acquire it for a minimal cost. That’s the opportunity.
The threat is that we wouldn’t want Saudi Arabia, Russia, China, or Europe to buy it first. There’s only space for one nation-state to accumulate 20% of the network, and I believe that should be the United States. I’m convinced it will be the United States. This is a means for us to enhance our wealth and establish ourselves as a creditor nation in just a decade. Furthermore, it allows us to remain the economic frontrunners in cyberspace.”
Strategy (previously known as MicroStrategy) holds the largest corporate Bitcoin treasury globally, comprising 478,740 BTC valued at approximately $46 billion as of this writing.
Wyoming Senator Cynthia Lummis, a prominent supporter of cryptocurrency, shared a video of Saylor’s CPAC speech on the social media platform X.
“If all we do is rectify the past issues (the national debt), it’s beneficial. However, there are numerous reasons to seriously consider establishing a Strategic Bitcoin Reserve.”
As of this writing, Bitcoin is trading at $96,264.
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Disclaimer: The views expressed in The Daily Hodl are not investment advice. Investors should conduct their own thorough research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Be aware that your transactions and trades are at your own risk, and any losses you incur are your sole responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it serve as an investment advisor. Please note that The Daily Hodl engages in affiliate marketing.
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