The concerns have been raised in response to Michael Saylor's suggestion that the U.S. should increase its planned strategic reserve and have influence over the Bitcoin network. Bitcoin educator Anita Posch warned about the centralization risk from governments and corporations setting up Bitcoin treasuries. Republican Senator Cynthia Lummis also proposed purchasing one million bitcoin (5% of the total supply), while Saylor suggested the U.S. government should buy a much larger portion of the Bitcoin network to catalyze its development. Posch and others have voiced concerns about the centralization of power within the Bitcoin network. Microstrategy currently holds over 2% of the total supply of bitcoin and Saylor expressed his intention to continue buying more bitcoin.



Other News from Today