MicroStrategy co-founder Michael Saylor has expressed support for a US strategic Bitcoin reserve under the incoming administration of President Donald Trump. In an interview with CNBC, Saylor emphasized the importance of investing in digital assets, including Bitcoin.
He suggested that the US government could buy up to 20-25% of the Bitcoin network by selling gold reserves or borrowing money. Saylor predicts that the Bitcoin price will increase significantly, potentially rising by a factor of 100.
The idea is part of a broader strategy to establish a digital assets framework and outline clear definitions for different entities involved. This framework could help mitigate volatility in the market and support America’s balance sheet.
Meanwhile, Senator Cynthia Lummis has proposed the BITCOIN Act, which aims to create a strategic reserve of 1 million Bitcoins over five years. The proposal has sparked interest in Bitcoin, already on a record-breaking run.
As of writing, Bitcoin is trading at $106,604.85, up 1.80% in the last 24 hours.
Source: https://www.benzinga.com/24/12/42522606/trump-is-serious-about-creating-a-bitcoin-reserve-says-microstrategys-michael-saylorurges-to-buy-btc-before-it-goes-up-by-100x