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.
The crypto market is once again buzzing with speculation about the next altcoin season, but opinions remain divided.
The recent tariff hikes under the Trump administration are stirring uncertainty across global markets, with cryptocurrencies feeling the ripple effects.
Bitcoin’s potential for a bull run might depend on the trajectory of the US Dollar Index (DXY), according to prominent crypto trader CarpeNoctom.
Bitcoin exchange-traded funds (ETFs) in the United States recorded significant net outflows of nearly $100 million on Thursday, coinciding with a sharp decline in the U.S. stock market.