U.S. Urged to Buy 20% of Bitcoin Network

The United States Government Should Acquire 20% of the Bitcoin (BTC) Network, Says Michael Saylor – Here’s Why

Michael Saylor, the executive chairman of Strategy (formerly MicroStrategy), has proposed that the U.S. government should acquire 20% of the Bitcoin (BTC) network. Speaking at the Conservative Political Action Conference (CPAC), Saylor argued that BTC is digital property and a crucial tool for the U.S. to "own cyberspace" in the future.

Saylor believes that the U.S. should seize this opportunity to buy BTC while it's relatively affordable. He warned that if the U.S. doesn't act, other nations like China, Russia, or the European Union might acquire a significant portion of the BTC network. Saylor suggested that by purchasing 20% of the network, the U.S. could enrich itself and become a creditor nation within a decade.

Strategy, under Saylor's leadership, has the largest Bitcoin corporate treasury in the world, with 478,740 BTC worth around $46 billion at the time of writing. Wyoming Senator Cynthia Lummis, a vocal crypto supporter, shared a clip of Saylor's CPAC appearance on the social media platform X, endorsing the idea of a Strategic Bitcoin Reserve.

At the time of writing, Bitcoin is worth $96,264. While Saylor's proposal is controversial, it highlights the growing interest in Bitcoin and cryptocurrencies among influential figures in the U.S. government.