Co-founder of Strategy Michael Saylor has suggested that the US 20% of the Bitcoin Delivery “Free”, and that possessing 4 to 6 million BTC “pay off the entire national debt”.
Saylor appeared at the annual CPAC conference and spoke for a strategic Bitcoin reserve, with the argument that “would strengthen the dollar” if the American federal government would create such stock.
He also warned that not pursuing such a policy would run the risk of running the US in other countries, and claims that “there is only room for one nation state to buy 20% of the network.”
He said, “You don’t want the Saudis to buy first, or the Russians, or the Chinese or the Europeans.”
The comments from Saylor come as various US states come closer to obliging their own Bitcoin reserves, whereby one bill in Utah most recently received a favorable recommendation from the Senate Rip and Tax Committee of the State.
The comments also come a month after President Donald Trump had signed an order to create a working group that will consider the possibility of a federal Bitcoin reserve.
Saylor emphasized that the US government could buy 20% of Bitcoin’s range “Like this“With his remark about buying BTC” Free “probably a reference to the capacity of the US government to spend an indefinite stock of dollars through treasuries.
Currently, the US government has around 183,422 BTC (almost 1% of the supply of the cryptocurrency), while the British government has 61,245 BTC (and the German government sold around $ 2.8 billion in BTC last year).
In the meantime, the Saylor company – the recently renamed strategy – has more than 430,000 BTC, giving it the largest Bitcoin interests of a listed company all over the world.
Saylor had previously published a Bitcoin reserve strategy to the Microsoft Board of Directors, which suggests in a December presentation that the Tech giant could create a whopping $ 5 trillion of shareholder value (by 2034) by collecting BTC.
Until now, neither Microsoft has nor any other large technology company followed Saylor’s advice, and although certain legislators in the US and elsewhere have made noises about BTC reserves, some observers are skeptical that such sounds will ever become a meaningful reality.
Asked if he agrees with the statements of Saylor that the US can easily buy 20% of all bitcoin, and that it would benefit the American dollar, old crypto -skeptic and author David Gerard, takes a much less bullish attitude .
“There is no plausible reason why one of these would be true or how the US would benefit from all that bitcoin,” he says Decrypt. “Saylor argues for US government prize support for Bitcoin and that’s all.”
Other, more sympathetic voices have also started expressing doubts as to whether a national Bitcoin reserve would ever happen or would be careful.
On Wednesday, the founder of Mit Cryypte -Eeconomics Lab Christian Catalini wrote a blog for the Omfif -Denktank in which he claims that Bitcoin does not meet the necessary criteria for a spare -resistant.
“Strategic reserves are intended to guarantee stability and offer immediate access during a crisis,” he writes. “Countries store dollars or oil because they need them to repay debts, arrange cross -border obligations and to run essential systems when supply chains falter.”
Perhaps more fatally, he also argues against Saylor by suggesting that storing Bitcoin would harm the status of the US dollar if the reserve currency of the world would harm.
“If the US Bitcoin started to collect on a large scale, this can be seen as a hedge against the dollar itself – pick up alarms and give rivals such as China or Russia an opening to claim that the US no longer trusts its own currency,” says he.
Such concerns cast a shadow over the recent champion of BTC reserves by evangelists such as Saylor and Strategy, who continue to collect Bitcoin on a regular basis.
And for David Gerard, Saylor’s comments are less about trying to find a big buyer for his own Bitcoin reserves of his company yesterday, and more about offering further credibility for his current business strategy.
He tells Decrypt“The Micro Strategy deal seems to use Bitcoin in a proxy for dollars, so that insiders can sell company shares in planned sales.”
Last month the shareholders of the strategy to increase the class A shares of the company from 330 million to 10.3 billion, as part of the efforts to collect $ 46 billion by selling a mix of shares and bonds.
Such an alleged strategy has a precedent within the cryptocurrency industry, although Gerard warns that it does not always end well.
He says: “The same process happened with Bitcoin miners in the bubble of 2021-2022: the companies would have Bitcoin-Slogans, but if you looked at the cash flows, it was about that insiders earned money. [stock] Investors who should have known better, where the exit is bankruptcy or at least restructuring. “
Published by Stacy Elliott.
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