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Strategy’s Michael Saylor outlines decade-long plan for United States’ Bitcoin holdings
Michael Saylor, Founder of Strategy (formerly MicroStrategy), has doubled his calls for the United States to acquire 5%-20% of the total Bitcoin [BTC] supply. During the inaugural crypto summit at the White House, Saylor presented his framework for U.S digital dominance in the 21st century. A key aspect of this proposal outlined a decade-long BTC acquisition plan.
According to Saylor’s plan, if the U.S acquires 5%-20% of the total supply (1.05M-4.2M BTC), it could generate $16-$81 trillion in the next 20 years and help alleviate the sticky fiscal debt problem. However, this plan would come at a cost of $90 billion – $362 billion at current prices.
It’s not the first time Saylor has called for the United States to control 20% of Bitcoin’s market. Last month, he warned that another country would seize the opportunity if the U.S doesn’t, citing aggressive bids from UAE, Russia, and China.
Bitcoin – Nation-state FOMO likely?
Brian Armstrong also echoed the potential FOMO on Bitcoin by other countries after the President established the U.S strategic BTC reserve. He stated, “The rest of the G20 are looking at America on offense in this industry (Bitcoin, crypto), and will be likely to follow suit.”
As for how the U.S government would adopt ‘budget-neutral strategies’ to acquire more BTC, as instructed by executive order, remains to be seen. However, nation-state FOMO could pick up soon. In fact, according to recent reports, South Korea’s top financial insiders want authorities to consider a strategic BTC reserve too. This potential FOMO could positively impact BTC’s value.
On the other hand, the short-term reaction to the U.S strategic BTC reserve has been a typical ‘sell the news’ event. Despite the bullish update, the world’s largest cryptocurrency declined from $92.8k to $86.8k – An 8% drop. Even the end-March price projection didn’t look positive at press time. According to predictions site Polymarket, the market is expecting a likely dump to $70k rather than a strong rally above $100k. A similar outlook was evident among Options traders too.
