American entrepreneur and business executive Michael J. Saylor, has called on the United States to adopt Bitcoin as a strategic national asset.
The executive chairman and co-founder of MicroStrategy, a company that provides business intelligence, mobile software, and cloud-based services, noted that such a move could bolster the dollar, tackle the national debt, and unlock trillions in economic value.
“A strategic digital asset policy can empower millions of businesses, drive growth, and create trillions in value,” Saylor said.
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His proposal includes categorizing assets like Bitcoin as “digital commodities” and establishing clear rights and responsibilities for issuers, exchanges, and owners.
Saylor’s advocacy for Bitcoin adoption is grounded on the increasing adoption of the crypto asset by governments, institutions, and individuals worldwide. A case study is the Latin American country El Salvador, which adopted Bitcoin as a legal tender, that has so far yielded impressive returns in its Bitcoin investments, surpassing $119 million profit, as the crypto asset reaches a new all-time high.
The Central American nation which adopted Bitcoin as a legal tender in 2021, is reaping the rewards of its early commitment to the crypto asset. The country’s recent surge in Bitcoin investment is coming after it reported in August this year, a BTC holdings valuation of $400 million, up from an initial investment of $135 million.
Notably, MicroStrategy’s Chairman Michael Saylor has consistently expressed strong confidence in Bitcoin. “I’m sure that I will be buying Bitcoin at $1 million a coin probably $1 billion a day of Bitcoin at $1 million a coin,” he stated.
He argues that Bitcoin is not only a hedge against inflation but also a revolutionary asset that could reshape global financial systems. In a recent Yahoo Finance interview, he suggested the U.S. government could acquire approximately 5 million Bitcoin by liquidating its gold holdings, potentially controlling the world’s “reserve capital network.” The proposal comes as Bitcoin solidifies its position as the seventh-largest asset globally by market capitalization.
With Saylor’s own MicroStrategy holdings showing substantial gains of 70.72%, the company has held a total of 423,650 BTC acquired for $25.6 billion at $60,324 per BTC. Also, the company was one of the hottest stocks on the planet, but the rally intensified after Donald Trump’s election victory in November. MicroStrategy now controls about 2.1% of Bitcoin’s total 21 million supply.
The company’s Bitcoin acquisition strategy continues to be closely monitored as a benchmark for institutional adoption. Saylor’s suggestion for the US to adopt Bitcoin is coming amidst Trump’s plan to create a Bitcoin reserve in the U.S.
Announcing this move, Trump said,
“We are gonna do something great with crypto because we don’t want China, or anybody else but others are embracing it and we want to be ahead”. Trump said in response to a question about whether the U.S. will create a Bitcoin strategic reserve similar to its oil reserve.”
Proponents of creating a national Bitcoin reserve argue that doing so could help reduce the U.S. national debt without raising taxes and could strengthen the dollar by diversifying U.S. government holdings.