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 <li>Michael Saylor urges the U.S. to secure the majority of Bitcoin, likening it to historical economic expansions like the Louisiana Purchase and Alaska.</li>
 <li>Saylor views Bitcoin as “cyber Manhattan,” essential for future U.S. economic stability and growth.</li>
 <li>The U.S. government currently holds around 200,000 BTC, highlighting significant federal cryptocurrency involvement.</li>
</ul>
<p>Recently, during the Bitcoin conference in Nashville, Tennessee, Michael Saylor, the Executive Chairman of MicroStrategy, suggested that the United States government should own the majority of the global Bitcoin reserves.<br><br>Saylor compared Bitcoin to historical U.S. territorial acquisitions, suggesting that just as these lands boosted the U.S. economy and international commerce, Bitcoin could similarly fortify the U.S. dollar’s position in the global economy</p>
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   <p lang="en" dir="ltr">JUST IN: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> Michael Saylor says, “US Govt. should own the majority of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>.” <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>“BTC is the Manhattan in cyberspace.” <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/ALFoF6iSTP" rel="noopener noreferrer nofollow">pic.twitter.com/ALFoF6iSTP</a></p>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1816809982983057640?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 26, 2024</a>
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<p>Saylor drew analogies between the potential Bitcoin acquisition and historic economic expansions like the Louisiana Purchase and the acquisition of Alaska. He explained how these decisions expanded U.S. territory, resources, and financial influence, strengthening the dollar. Saylor believes securing a significant share of Bitcoin could enhance the U.S. economy in the digital age.</p>
<h2 class="wp-block-heading" id="h-historical-precedents-in-economic-strategy">Historical Precedents in Economic Strategy</h2>
<p>According to Saylor, past U.S. investments in land and resources have been economically beneficial and helped secure the nation’s economic future. Saylor pointed out several historic events in which U.S. investments were financially helpful.<br><br>He noted that the development of the Port of New York and the early purchases of significant territories like Alaska and Louisiana profoundly affected the U.S. economy by enhancing its commerce capabilities and resource base.&nbsp;</p>
<p>Saylor argues that Bitcoin represents a digital equivalent of these physical assets, describing it as “cyber Manhattan.” He advocates for acquiring Bitcoin before its value escalates further, akin to how the Dutch secured Manhattan with minimal investment.</p>
<h2 class="wp-block-heading" id="h-current-u-s-government-bitcoin-holdings">Current U.S. Government Bitcoin Holdings</h2>
<p>The discussion around Bitcoin comes at a time when the U.S. government has already amassed substantial Bitcoin holdings through various seizures linked to criminal activities. Recent transactions noted a significant Bitcoin transfer to the Coinbase exchange, which involved assets seized back in 2021 from a conviction dating to 2018.</p>
<p>These holdings place the U.S. among the top sovereign owners of Bitcoin, prompting discussions on its potential role as a reserve asset. The United States Department of Justice controls around 200,000 BTC, reflecting the government’s notable cryptocurrency involvement.</p>
<h2 class="wp-block-heading" id="h-industry-reactions-and-government-actions">Industry Reactions and Government Actions</h2>
<p>The U.S. is not alone in managing large quantities of Bitcoin. For instance, German authorities recently sold off a significant amount of BTC, Which Saylor and various industry leaders criticized the deal, claiming that selling Bitcoin holdings was a strategic mistake.</p>
<p>Under Saylor’s leadership, MicroStrategy has invested in Bitcoin since 2020, accumulating over $8.3 billion. Despite shifts in Bitcoin’s market value, Saylor’s firm has an unrealized profit that exceeds $6.2 billion.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/btc-maximalist-michael-saylor-opens-up-against-ether/" rel="noopener noreferrer nofollow">BTC Maximalist Michael Saylor Opens up Against Ether</a></li>
 <li><a href="https://cryptonewsland.com/microstrategys-michael-saylor-accused-of-tax-fraud/" rel="noopener noreferrer nofollow">MicroStrategy’s Michael Saylor Accused of Tax Fraud</a></li>
 <li><a href="https://cryptonewsland.com/michael-saylor-on-cnbc-bitcoins-path-to-1-million/" rel="noopener noreferrer nofollow">Michael Saylor on CNBC: Bitcoin’s Path to $1 Million</a></li>
 <li><a href="https://cryptonewsland.com/michael-saylor-us-to-profit-most-from-crypto-adoption/" rel="noopener noreferrer nofollow">Michael Saylor: US To Profit Most From Crypto Adoption</a></li>
 <li><a href="https://cryptonewsland.com/michael-saylor-even-ai-cant-hinder-bitcoins-surge-to-80-market-dominance/" rel="noopener noreferrer nofollow">Michael Saylor: Even AI Can’t Hinder Bitcoin’s Surge to 80% Market Dominance</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/michael-saylor-urges-u-s-government-to-dominate-global-bitcoin-reserves/" rel="noopener noreferrer nofollow">Michael Saylor Urges U.S. Government to Dominate Global Bitcoin Reserves</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Michael Saylor Urges U.S. Government to Dominate Global Bitcoin Reserves

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