Michael Saylor Proposes Bitcoin-Backed Dollar for US Treasury
Michael Saylor, CEO of MicroStrategy, continues his vocal support for Bitcoin, proposing its integration into the US Treasury.
Advocating for a dollar backed by Bitcoin, Saylor argues that such a move would uphold fundamental American values of privacy and property rights while fortifying the dollar’s strength.
Saylor has long promoted Bitcoin as a robust store of value and sees its adoption by the Treasury as pivotal for enhancing financial privacy and security. “Nothing is more American than privacy, property rights, and a dollar backed by Bitcoin,” he asserted in a recent statement on X.
In alignment with US Senator Cynthia Lummis, who advocates for Bitcoin as a means to safeguard financial independence, Saylor emphasizes Bitcoin’s role in protecting against government surveillance associated with Central Bank Digital Currencies (CBDCs). Lummis has publicly opposed CBDCs, arguing they could diminish personal financial freedoms.
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Both Saylor and Lummis believe Bitcoin can diversify against inflation risks and bolster the US financial system.
Their advocacy has gained traction, particularly as digital currencies become increasingly significant in American political discourse, notably in the lead-up to the November elections.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
