Michael Saylor, executive chairman of MicroStrategy, is urging the U.S. government to acquire 20% of Bitcoin’s network to secure America’s dominance in the digital economy. Saylor believes that owning a significant portion of Bitcoin could lead to substantial economic benefits for the United States.
Speaking at the Conservative Political Action Conference (CPAC), Saylor stated that there is only room for one nation to buy 20% of the Bitcoin supply, and he believes that it should be the United States. He envisions Bitcoin as a tool for financial empowerment and national economic growth. Saylor predicted that the U.S. could implement such a strategy within 12 months, given the growing appreciation for Bitcoin across the cabinet, House, and Senate.
Saylor suggested that owning four to six million Bitcoins could help address the national debt, potentially benefiting U.S. taxpayers by “$50 trillion to $80 trillion”. He emphasized that owning Bitcoin is synonymous with owning cyberspace and running the Bitcoin network.
Currently, the U.S. holds over 198,109 Bitcoin, valued at over $19 billion, making it the leading government holder of the digital asset. In December, Saylor published a Bitcoin and crypto framework for the U.S. government and supported the establishment of a U.S. strategic Bitcoin reserve to strengthen America’s stance in the global digital economy.
This proposal comes amid increasing interest from U.S. states in creating Bitcoin reserves. Reports suggest that twenty U.S. states may be on the verge of creating Bitcoin reserves, potentially leading to a radical shift in global financial markets. If approved, these laws could result in the purchase of approximately 247,000 Bitcoins, worth around $23 billion.
However, some experts believe that acquiring such a large percentage of the total supply of Bitcoin could be seen as a form of market manipulation and could lead to regulatory scrutiny.
