Michael Saylor and his company, Strategy, announced a $1.99 billion Bitcoin purchase. Saylor also presented a plan to the SEC aimed at addressing the US national debt.
Purchase of $1.99 Billion in Bitcoin
Despite Bitcoin's 6.8% drop on Tuesday, Michael Saylor, CEO of Strategy, announced the acquisition of $1.99 billion in Bitcoin, increasing the company's holdings to 499,096 BTC.
Saylor's Proposal to the SEC
Saylor proposed a strategic Bitcoin reserve plan to the SEC, believing it could aid in managing the $36.2 trillion US national debt. He estimates potential US Treasury gains from this initiative at $16 to $81 trillion.
Market Performance and Technical Outlook
With Bitcoin trading at around $89,060 after a 3.6% drop in the last 24 hours, Strategy continues to purchase coins, expecting their value to rise. If Bitcoin rebounds to the $96,000 level, it could result in significant gains.
Michael Saylor's strategy is focused on strengthening his company's position in the cryptocurrency world, with potential implications for the US economy if his bold plan is realized.
