CandleFocus Strategic Bitcoin Reserve Has Precedent in Other Big U.S. Government Purchases: Michael Saylor
2024-11-15
Author: Content Editor
MicroStrategy executive chairman Michael Saylor believes that the United States government should build a strategic reserve of bitcoin. He pointed out that the government has made strategic stockpiling moves in the past, and if a bill by Sen. Cynthia Lummis becomes law, it would be the "greatest deal of the 21st century." Lummis' bill proposes adding to the country's current holdings of bitcoin and reaching a total of one million tokens over a period of five years. Saylor suggested that owning bitcoin is a way to protect the dollar and described it as the "manifest destiny" for the United States. If the bill passes and the U.S. purchases one million bitcoin, Saylor estimates a $16 trillion benefit, while a purchase of four million bitcoin could result in an $81 trillion return.
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