Michael Saylor, executive chairman of Strategy (NASDAQ:MSTR), suggested on Thursday that the United States plans to purchase 1 million Bitcoin (CRYPTO: BTC) to establish a strategic reserve, aligning with a framework outlined in the bill proposed by senator Cynthia Lummis (R-Wyo.)
He was speaking in a Fox Business interview, ahead of a White House Crypto Summit scheduled for Friday, where Saylor will participate.
What Happened: Saylor emphasized a deliberate acquisition process over four years, leveraging the government’s existing 200,000 Bitcoin holdings, valued at approximately $17 billion at current prices, to build the reserve.
Saylor, whose company holds over 500,000 Bitcoin—about 2.4% of the global supply—provided insight into the proposed strategy.
“The Lummis bill has laid out the idea of acquiring Bitcoin strategically over four …
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