"Saylor Urges US to Buy 20% of Bitcoin, Warns of Global Competition"

Michael Saylor, the CEO of MicroStrategy, has recently advocated for the United States to acquire 20% of the Bitcoin network. Saylor believes that this strategic move would strengthen the nation's currency, enrich its economy, and potentially help pay off the national debt. He made these remarks at the CPAC conservative movement conference in Washington, D.C.

Saylor warned that if the US does not act swiftly, other global powers such as Saudi Arabia, Russia, China, or European countries could seize the opportunity and accumulate a significant portion of the Bitcoin network. At current market prices, acquiring 20% of Bitcoin's circulating supply would require an investment of approximately $392 billion.

When asked about the inclusion of other cryptocurrencies in a potential US reserve, Saylor emphasized Bitcoin's unique status as a decentralized commodity without an issuer. He argued that Bitcoin has reached "escape velocity," solidifying its dominance in the digital asset space. Saylor also discussed the competitive challenges faced by companies against monopolistic tech giants and praised Bitcoin's decentralized nature as a revolutionary escape from traditional power structures.

MicroStrategy, under Saylor's leadership, has become the largest corporate holder of Bitcoin by amassing 478,740 BTC, currently valued at approximately $47 billion. The firm's Bitcoin portfolio has yielded impressive results, with an average purchase price of $65,000 per coin, resulting in a 51% profit, or roughly $16 billion. This strategic Bitcoin accumulation has also propelled MicroStrategy's stock price by 360% over the past year.

Saylor also spoke about the broader shift in global capital flows, noting that wealth is increasingly migrating from the physical world to cyberspace. He described this transition as a movement from 20th-century financial systems to a digital economy, where artificial intelligence and high-speed computations will play a dominant role.

In addition to Saylor's advocacy, several US states are moving forward with legislation to adopt Bitcoin as a reserve asset. Utah's HB230 bill, which aims to establish Bitcoin as a reserve asset for the state, has advanced through the Senate Revenue and Taxation Committee with a 4-2-1 vote. The bill now moves to the next stages of the legislative process, requiring a second and third reading before a final Senate vote. If enacted, the bill will establish