Michael Saylor, founder of Strategy, urged the United States to establish a strategic reserve of 20% of the Bitcoin network. This move, he argues, will strengthen the dollar and the national economy.
Speech at the CPAC Conference
Michael Saylor made his statement at the CPAC conservative movement conference in Washington DC on February 20. He stressed that if any nation-state should buy 20% of the Bitcoin network, it should be the United States.
Advantages of a Strategic Bitcoin Reserve
Saylor stated that if the US acquires 20% of the Bitcoin network, the dollar would strengthen, and the national debt could be paid off. At current prices, 20% of the network amounts to about 4 million BTC, worth roughly $392 billion.
Threat from Other Nations
Michael Saylor also noted that it would be unsafe if the first 20% of the network were acquired by Saudi Arabia, Russia, China, or Europe. He emphasized the uniqueness of Bitcoin as an asset without an issuer, which cannot be corrupted.
Saylor's commercial firm, previously known as MicroStrategy, is the largest corporate holder of Bitcoin in the world. In an era where capital is shifting into digital space, establishing a strategic reserve could be a crucial step in ensuring the economic security of the United States.
