Michael Saylor Supports U.S. Proposal for Strategic Bitcoin Reserve

Michael Saylor, co-founder of MicroStrategy, recently voiced his support for the establishment of a strategic Bitcoin reserve.

The proposal, first introduced by U.S. Senator Cynthia Lummis in July, aims to strengthen the country’s financial position by accumulating Bitcoin as a store of value.

The United States needs a Strategic #Bitcoin Reserve. https://t.co/ZKy3WMbuaz

— Michael Saylor⚡️ (@saylor) November 6, 2024

Under this plan, the U.S. government would gradually purchase 1 million Bitcoins over five years, acquiring around 200,000 coins annually. This would make up about 5% of Bitcoin’s total supply, and purchases would be carried out in a way that minimizes market disruption.

The Bitcoin would be stored in secure vaults, with the coins locked for at least 20 years, ensuring they wouldn’t be sold for decades. A key feature of the proposal is transparency, with quarterly public reports to be published by the U.S. Department of the Treasury.

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While advocates see this move as a way to enhance the nation’s economic stability, critics argue that Bitcoin doesn’t hold the same strategic importance as other assets like oil. Some believe that encouraging Bitcoin adoption shouldn’t be viewed as a national security priority for the U.S.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.