Michael Saylor of Strategy Co-founder Michael Saylor suggested that the U.S. can purchase 20% Bitcoin You can also buy it online. “for free,” Owning between 4 and 6 Million BTC is a good investment. “pay off the entire national debt.”
Saylor argued in favour of creating a Bitcoin Reserve at this year’s CPAC Conference. “the dollar would strengthen” If the U.S. government had such a storehouse.
In addition, he warned that the U.S. would fall behind other nations if it did not adopt such a plan. “there’s only room for one nation-state to buy up 20% of the network.”
“He said” “you wouldn’t want the Saudis buying it first, or the Russians, or the Chinese or the Europeans.”
My talk at the @CPAC conference this morning focused on Bitcoin, freedom, and economic empowerment.pic.twitter.com/eOFCnYa7qu
— Michael Saylor⚡️ (@saylor) February 20, 2025
Saylor’s comments come at a time when several U.S. States are moving closer to mandating the creation of their own Bitcoin Reserves. One bill, in Utah received a positive recommendation by its Senate Revenue and Taxation Committee.
These remarks come one month after Donald Trump created a group to study the idea of creating a Bitcoin federal reserve.
Saylor stated that the U.S. could acquire 20% of Bitcoins’ supply “like that,” Comment by a BTC buyer on his purchase “for free” This is presumably an allusion to the U.S. Treasury’s indefinite ability to supply dollars.
At the moment, the U.S. holds about 183,422 BTC. (Nearly 1%) The British government, on the other hand, owns 61.245 BTC. (And the German government, last year, sold BTC for around $2.8 Billion.
Meanwhile, Saylor’s firm – the recently rebranded Strategy – holds over 430,000 BTC, giving it the largest Bitcoin holdings of any publicly traded company anywhere in the world.
Saylor previously presented a Bitcoin Reserve Strategy to Microsoft’s Board of Directors, suggesting that the company could increase shareholder value by as much as 5 trillion dollars (by 2034), simply by collecting BTC.
Microsoft and other Big Tech firms have not yet heeded Saylor’s warning. While some lawmakers from the U.S., Canada, Australia and New Zealand made noises regarding BTC reserves in recent years, many observers doubt that these noises would ever be translated into a real-world reality.
David Gerard, a long-time crypto skeptic, takes a less optimistic stance when asked if he believes Saylor that the U.S. can easily purchase 20% of Bitcoin and benefit the U.S. Dollar.
“There is no plausible reason why either of these would be true or how the U.S. would benefit from all that Bitcoin,” He says Decrypt. “Saylor is advocating for U.S. government price support for Bitcoin and that's all.”
Some voices, who are more sympathetic to the cause of a Bitcoin national reserve have begun to express doubts about whether it would be wise or possible for one ever exist.
Christian Catalini of MIT’s Cryptoeconomics Lab wrote a post for OMFIF on Wednesday in which he argues Bitcoin doesn’t meet all the requirements for a currency reserve.
“Strategic reserves are meant to ensure stability and provide immediate access during a crisis,” He is a writer. “Countries store dollars or oil because they need them to repay debts, settle cross-border obligations and keep essential systems running when supply chains falter.”
He also makes a fatal argument against Saylor, saying that storing Bitcoins would damage the U.S. Dollar’s position as the reserve currency of the world.
“If the U.S. began amassing Bitcoin on a large scale, it might be seen as a hedge against the dollar itself – raising alarms and giving rivals like China or Russia an opening to claim that the U.S. no longer trusts its own currency,” He says.
As a result, evangelists Saylor and Strategy continue to acquire Bitcoin on a daily basis.
David Gerard says that Saylor’s comments are more than just a way to give credibility to his current business strategies.
Tell him Decrypt, “Microstrategy's deal seems to be leveraging Bitcoin into a proxy for dollars so insiders can sell company stock in scheduled sales.”
Strategy shareholders approved a vote last month that increased the Class A share count of the firm from 330,000,000 shares to 10.3Billion. The move was made as part efforts to raise $46 billion in a mixture of bonds and equities.
Gerard says that this type of alleged strategy does not always work out well.
“He says” “The same process happened with Bitcoin miners in the 2021-2022 bubble: the companies would talk Bitcoin slogans, but if you looked at the flows of cash it was about insiders making money from [stock] investors who should have known better, with the exit being bankruptcy or at the least restructuring.”
Stacy Elliott edited this article.