US Considers Holding 1 Million Bitcoins, Suggests Michael Saylor
- Bitcoin reserve: US considers acquiring 1 million.
- Michael Saylor proposes gradual and transparent purchase.
- Acquisition may influence Bitcoin price.
In a recent statement, Michael Saylor, founder and CEO of financial giant MicroStrategy, proposed a US purchase of a staggering one million Bitcoins for its strategic reserves. The suggestion was made during a interview to FOX Business, held ahead of the White House Cryptocurrency Summit, an event that will bring together industry leaders and government officials to discuss the future of digital assets.
Saylor’s proposal raised questions in the industry about how the government could fund such a large reserve of Bitcoin. In his response, the executive suggested a multi-year timeline, with a “six-month process” set out by an executive order.
“There are 12 members on the presidential labor committee. There will be industry involvement. There will be Senate and House involvement and I and it is above my pay grade to decide how that is determined,” he said.
The US government currently holds around 200.000 BTC, valued at approximately $17 billion. A large-scale acquisition of Bitcoin by the US government could significantly impact the price of the largest cryptocurrency on the market. In this sense, Saylor advocates a “responsible” approach, with gradual and transparent purchases, to avoid market turbulence.
“The real key about Bitcoin is that people understand that it is a digital asset. It is a savings account that empowers every American to save their wealth and preserve it over time,” Saylor said.
It is worth remembering that, earlier this week, in an announcement that marked a new era for the cryptocurrency sector in the United States, President Donald Trump revealed the formation of a Strategic Cryptocurrency Reserve. This reserve will incorporate leading cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), as well as prominent altcoins such as XRP, SOL and ADA. The move is seen as an effort to revitalize the industry, which according to Trump, suffered “years of corrupt attacks” under the Joe Biden administration.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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