Saylor: US Should Buy Bitcoin Slowly And Strategically

• Saylor calls for a US Bitcoin reserve, emphasizing strategic and steady acquisition.
• Bitcoin is “digital property” and key to US financial strength, Michael Saylor argues.
• Saylor also provided clarity on other coins, advocating Bitcoin as America’s reserve.

Strategy Executive Chairman Michael Saylor shared his perspective on the potential US cryptocurrency reserve during an interview on Fox Business. When asked how a cryptocurrency reserve might be financed, Saylor referenced the executive order’s six-month process involving 12 members of a presidential working committee. He noted that industry representatives, along with Senate and House members, would participate in shaping the implementation strategy.

“The Lummis Bill has laid out the idea of acquiring Bitcoin strategically over four years, just consistently day by day, in order to reach a million Bitcoin target,” Saylor explained. The interview addressed the current government holdings, estimated at approximately 200,000 Bitcoin valued at $17 billion at current prices. When questioned about the market impact of government purchases, Saylor advocated for methodical acquisition: “The most responsible thing would be to go slow and steady and deliberate with clear telegraphing and transparency.”

Saylor framed Bitcoin as a “digital property” and “savings account that empowers every single American to save their wealth and preserve it over time.” He also added that government involvement could provide “clarity to the asset class and confidence to every American citizen.”

On the question of which assets should comprise the reserve, Saylor drew distinctions between different types of digital assets. He categorized Bitcoin as a “digital commodity” without an issuer, stablecoins as “digital currencies” important for US dollar supremacy. Saylor also mentioned tokenized stocks and bonds as “digital securities,” and utility tokens as “digital tokens” that could provide capital for small and mid-sized companies.

Related: MT. Gox Moves $1B Worth Bitcoin to Unknown Address: Report

When pressed specifically about including other cryptocurrencies like Cardano or Solana in the reserve, Saylor emphasized Bitcoin’s position: “Bitcoin is the one universally agreed upon foundational asset in the entire crypto economy because it’s the asset without an issuer.”

Saylor suggested that establishing a Bitcoin reserve would be similar to planting the flag in cyberspace, giving the US a first-mover advantage over other nations and artificial intelligence systems. When asked about Bitcoin purists who might object to government involvement, Saylor described Bitcoin as “a protocol for prosperity” that could benefit individuals, companies, and countries alike.

The post Saylor: US Should Buy Bitcoin Slowly And Strategically appeared first on Cryptotale.