Michael Saylor pushes US gov’t to purchase up to 25% of Bitcoin supply
According to Michael Saylor, the founder of Strategy, the US government should have a goal of holding 25% of Bitcoin’s supply by 2035. This statement comes as the world’s most popular cryptocurrency continues to gain mainstream acceptance and adoption.
Saylor’s belief is based on the fact that by 2035, 99% of all Bitcoin will have been issued, leaving only a small percentage available for purchase. This scarcity will drive up the value of Bitcoin, making it a valuable asset for governments to hold.
But why does Saylor think the US government should hold such a significant amount of Bitcoin? The answer lies in the potential benefits that come with owning a portion of the digital currency.
Firstly, Bitcoin is a decentralized currency, meaning it is not controlled by any government or central authority. This makes it a hedge against inflation and economic instability, as its value is not tied to any specific country’s economy.
Secondly, Bitcoin has a finite supply, with only 21 million coins ever to be in existence. This makes it a deflationary asset, as the supply cannot be increased to meet demand. As a result, its value is expected to continue to rise over time.
Furthermore, as more companies and institutions adopt Bitcoin as a form of payment and investment, its value is likely to increase even further. This would make it a valuable asset for the US government to hold, providing a potential source of revenue and diversifying its portfolio.
However, Saylor’s suggestion is not without its critics. Some argue that the government should not be involved in owning a volatile asset like Bitcoin, as it could pose a risk to taxpayers’ money.
Despite the differing opinions, one thing is clear: Bitcoin’s growing popularity and potential for long-term value make it an attractive asset for governments to consider holding. And with Saylor’s bold prediction of 25% of Bitcoin’s supply being held by the US government in just over a decade, it will be interesting to see how this plays out in the future.
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