Michael Saylor presents his plan for an $81 trillion Bitcoin reserve for the United States – DL News
- Michael Saylor proposes a Bitcoin reserve to create up to $81 trillion for the US Treasury.
- Loomis suggests purchasing 200,000 Bitcoin per year to build a strategic reserve.
After spending the last four years adding Bitcoin to MicroStrategy Reserves And benefit from it 15 billion dollarsMichael Saylor calls for the United States to adopt Bitcoin as a strategic national asset.
He claims this could strengthen the dollar, address the national debt, and unleash trillions in economic value.
“Strategic digital asset policy can empower millions of businesses, drive growth, and create trillions in value,” Saylor said He said.
His proposal includes classifying assets like Bitcoin as “digital commodities” and creating clear rights and responsibilities for issuers, exchanges and owners.
The United States has already achieved a lead, and it is standing firm 207,000 Bitcoin Seized in cases such as the Silk Road – a larger amount of Bitcoin than any other national government.
While Saylor did not mention these holdings in his plan, he envisions the Bitcoin reserve would create between $16 trillion to $81 trillion in wealth for the U.S. Treasury to help offset the national debt.
He also expects the digital asset market to expand to $280 trillion — more than 100 times its current size — but does not provide details on how he reached those numbers.
Sen. Cynthia Lummis proposed a rough proposal range For a Bitcoin reserve, which proposes that the US Treasury purchase 200,000 Bitcoin annually for five years until the reserve reaches 1 million tokens – about 5% of the total Bitcoin supply.
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Under its plan, these purchases would be financed through profits on Fed deposits and gold holdings, with reserves held for at least 20 years.
Saylor also warned that inaction could leave the United States lagging behind countries like China.
“The United States has an opportunity to catalyze a 21st century capital markets renaissance and unleash trillions of dollars in value creation,” he said.
Crypto market drivers
- Bitcoin fell 3% in the past 24 hours to $96,160.
- Ethereum fell 6.3% to $3,325.
What we read
Kyle Byrd is DL News“Weekend Editor. Got a tip? Email in kbaird@dlnews.com.
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2024-12-22 07:47:00
