bitcoin
bitcoin

$96931.168834 USD

-0.56%

ethereum
ethereum

$3355.763382 USD

-3.41%

tether
tether

$0.999375 USD

-0.01%

xrp
xrp

$2.239777 USD

-2.09%

bnb
bnb

$664.818451 USD

-2.77%

solana
solana

$182.869937 USD

-6.18%

dogecoin
dogecoin

$0.318464 USD

-1.87%

usd-coin
usd-coin

$0.999974 USD

0.00%

cardano
cardano

$0.900487 USD

-5.08%

tron
tron

$0.245626 USD

-1.23%

avalanche
avalanche

$37.415117 USD

-5.96%

chainlink
chainlink

$22.246808 USD

-4.58%

toncoin
toncoin

$5.317475 USD

-3.64%

sui
sui

$4.411486 USD

-3.24%

shiba-inu
shiba-inu

$0.000022 USD

-4.67%

Cryptocurrency News Articles

MicroStrategy Founder Michael Saylor Pitches Plan to Establish a Strategic Bitcoin Reserve for the U.S. Treasury

Dec 21, 2024 at 09:37 pm

The proposal suggests that such a Bitcoin (BTC) reserve could generate between $16 and $81 trillion in wealth for the U.S. Treasury

MicroStrategy Founder Michael Saylor Pitches Plan to Establish a Strategic Bitcoin Reserve for the U.S. Treasury

MicroStrategy founder Michael Saylor shared Friday a proposal for setting up a strategic Bitcoin reserve.

The proposal claims that such a Bitcoin (BTC) reserve could generate between $16 and $81 trillion in wealth for the U.S. Treasury, potentially offering a way to offset the national debt. The proposal projects digital capital markets growth from $2 trillion to $280 trillion, with U.S. investors capturing the majority stake.

A strategic digital asset policy can strengthen the US dollar, neutralize the national debt, and position America as the global leader in the 21st-century digital economy—empowering millions of businesses, driving growth, and creating trillions in value.

The framework advocates for practical compliance measures. These include standardized disclosures and industry-led compliance protocols. At the same time, it aims to reduce issuance costs and expand market access to 40 million businesses from the current 4,000 public companies.

MicroStrategy’s addition to the Nasdaq 100, replacing IT firm Super Micro Computer, is set to trigger buying activity from index-tracking funds.

The company’s success is highlighted by its market position, trading at approximately double the net asset value of its Bitcoin holdings. This premium allows MicroStrategy to continue issuing stock above its intrinsic value, enabling further Bitcoin purchases.

The recent developments validate the Bitcoin-focused strategy championed by Saylor. Saylor has emerged as one of the most prominent advocates for Bitcoin since initiating the company’s cryptocurrency investments four years ago.

According to the data from Saylortracker, the company now holds 439,000 Bitcoin, showing an unrealized gain of $16 billion. MicroStrategy’s last BTC purchase was on Dec. 16, when the company bought 15,350 coins for $1.5 billion.

MicroStrategy’s Bitcoin strategy has propelled the software company into the Nasdaq 100 index, with its market capitalization soaring to $88 billion despite holding Bitcoin valued at around $43 billion.

MicroStrategy managed to raise nearly $20 billion from investors in 2024 through a combination of share sales and convertible bonds. The company’s stock has witnessed a surge of over 500% this year.

News source:crypto.news

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Other articles published on Dec 22, 2024