Michael Saylor said the US should buy 20% of Bitcoin: Otherwise, China will seize the opportunity! - Coin Bulletin

Michael Saylor emphasized the importance of the United States forming a strategic Bitcoin (BTC) reserve, stating that the country should buy 20% of the total BTC supply.

Michael Saylor, the founder of Strategy's (eski MicroStrategy), said at the CPAC conference in Washington, D.C., that the U.S. could own 20% of the Bitcoin network, which would boost the country's economy. According to Saylor, the purchase of 4-6 million BTC could have the potential to pay off the U.S. national debt.

Risks may increase if the US does not buy Bitcoin

Saylor expressed that if the US does not take such a step, Saudi Arabia, Russia, China, or European countries could gain an advantage by buying BTC. At current prices, 20% of the Bitcoin supply is approximately 4 million BTC, which is an investment worth approximately 400 billion dollars. In comparison, the US Strategic Petroleum Reserve is only worth 29 billion dollars.

Saylor emphasized that the US should focus solely on Bitcoin, avoiding mentioning other crypto assets. Pointing out that Bitcoin has a decentralized and immutable structure, Saylor said, “Bitcoin has now reached escape velocity”, strengthening its position as a store of value independent of traditional financial systems.

Earlier this week, MicroStrategy changed its company name to Strategy, and is now the largest institutional BTC holder with 478,740 BTC.