Michael Saylor Urges US to Establish Bitcoin Reserve Amid Trump’s Pro-Crypto Stance
Former MicroStrategy CEO Michael Saylor has been very vocal about the potential of creating a strategic reserve of Bitcoin for the United States since the possibility of a pro-cryptocurrency candidate winning the U.S. election emerged. US President-elect Donald Trump recently hinted at his plans to establish the reserve. The big question is: Can he create one? The political situation does look challenging. Here’s what you should know.
Michael Saylor’s Thoughts on Trump’s Cryptocurrency Policy
In a recent interview, Thaler expressed joy at the victory of pro-crypto candidate Trump in the U.S. presidential election, calling for a new structured framework that is less regulatory and pro-innovation to Advancing the development of digital industries is the next U.S. regime. He strongly called for the establishment of BTC reserves.
Bitcoin strategic reserve debate
The concept of strategic reserves has been met with strong criticism, especially from lawmakers. Senator Kirsten Gillibrand has recently become one of the most vocal critics of the reserve concept. She strongly questioned the legality and purpose of the reserve plan. She said it would not be easy for Trump to advance the reserve plan, indirectly stressing the importance of convincing people that the U.S. economy could benefit from the plan.
Saylor’s Vision: Bitcoin Strategic Initiatives
When asked about Gillibrand’s criticism and her arguments related to understanding the purpose of the U.S. Bitcoin reserve initiative, Thaler viewed the reserve program as a strategy to maintain U.S. financial dominance in global markets.
Talking about the competition the country faces from rivals such as Russia and China, he suggested that the United States purchase at least 20% to 25% of the total Bitcoin supply. He claimed that if the United States sold its gold reserves to buy Bitcoin, the move would weaken competitors that rely heavily on gold and could push the value of U.S. capital reserves into the trillions of dollars.
Bank of America’s Bitcoin Investments
Interestingly, in a recent interview, former Bank of America executive Steve Weiss revealed that the bank is actively buying Bitcoin. What this means: Institutional investors’ confidence in Bitcoin continues to grow.
In summary, the debate over Bitcoin’s role in the U.S. economy is intensifying, and potential policies, investments, and reserves are reshaping its future.
