MicroStrategy's executive chairman, Michael Saylor, has again promoted Bitcoin, suggesting its use within the United States Treasury.
In a July 12 post, Saylor advocated for a dollar backed by Bitcoin, citing the cryptocurrency’s alignment with American values like privacy and property rights.
Saylor’s remarks responded to US Senator Cynthia Lummis’s opposition to central bank digital currencies (CBDCs). Lummis, in a Fox Business interview, emphasized Bitcoin’s role in preserving American financial sovereignty and personal control over finances.
Both Saylor and Lummis highlight efforts to enhance the US financial system through Bitcoin, offering a hedge against inflation and increasing financial privacy via decentralization.
Saylor is known for his strong support of Bitcoin, with MicroStrategy making significant investments in the cryptocurrency. Senator Lummis, a consistent Bitcoin advocate, promotes policies that protect individual financial freedom.
The Bitcoin push gains attention as cryptocurrencies become a hot topic for the upcoming US elections. Former President Donald Trump has also expressed support for the crypto sector and opposed the launch of a CBDC due to privacy concerns.
Bitcoin’s price might be soaring, but public curiosity isn’t keeping up. According to Bitwise CEO Hunter Horsley, despite Bitcoin reaching around $90,000, interest in the cryptocurrency — as measured by Google search trends — has stayed surprisingly low.
Bitcoin miner activity has hit a notable low point, according to the latest analysis from crypto research firm Alphractal.
Robert Kiyosaki, well-known for Rich Dad Poor Dad and his vocal support for Bitcoin, recently faced an unexpected lack of engagement from his X followers.
Strategy, formerly MicroStrategy, has expanded its Bitcoin portfolio by acquiring an additional 15,355 BTC for about $1.42 billion at an average price of $92,737 per Bitcoin.