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coinpedia 2024-12-21 06:50:59

Could Bitcoin Make America $81 Trillion Richer? MicroStrategy’s Michael Saylor Thinks So!

Could Bitcoin Make America $81 Trillion Richer? MicroStrategy’s Michael Saylor Thinks So!

The post Could Bitcoin Make America $81 Trillion Richer? MicroStrategy’s Michael Saylor Thinks So! appeared first on Coinpedia Fintech News Michael Saylor, the chairman of MicroStrategy, has shared a bold idea: by using Bitcoin as a strategic reserve, the United States could make up to $81 trillion. Saylor believes this move could position the U.S. as the leader of the global digital economy. Perhaps his idea faced criticism, with some saying it could weaken the U.S. dollar and harm the economy. US Could Unlock $81 Trillion With Bitcoin According to Michael Saylor, adopting a Bitcoin reserve would allow the U.S. to leverage the cryptocurrency’s scarcity and growing global value. He suggests that a strategic Bitcoin policy could strengthen the U.S. dollar, reduce national debt, and boost the economy by creating trillions in value. Saylor also outlined a scenario where global digital capital markets could expand from $2 trillion to $280 trillion, with the U.S. capturing a significant share of this growth. He also predicted that the Bitcoin reserve could generate anywhere from $16 trillion to $81 trillion for the U.S. Treasury, unlocking huge opportunities for U.S. companies. Some even believe that Bitcoin’s price could soar to $500,000 if this vision comes to life. Peter Schiff Slams Salyor’s Proposal While Saylor’s vision has its supporters, it has also faced strong criticism. Economist and long-time Bitcoin critic Peter Schiff called the proposal “complete bullshit, ” claiming it would harm the U.S. economy. This is complete bullshit. The proposal would do the opposite. It would weaken the dollar, exacerbate the national debt, and making America a laughing stock. It would deprive business of power, diminish growth, and destroy value. — Peter Schiff (@PeterSchiff) December 20, 2024 Schiff argued that adopting Bitcoin as a national reserve would weaken the dollar, increase national debt, and destabilize the economy. “This would deprive businesses of power, reduce growth, and destroy value.” Although, Schiff has always argued that Bitcoin is too risky and unstable to be a reliable financial asset. Instead, he supports gold, which he sees as a safer investment. Bitcoin’s Role in the Future Saylor’s bold proposal adds to the ongoing discussion about Bitcoin’s place in national economies. While countries like El Salvador have embraced Bitcoin, it’s still a controversial idea for larger economies like the U.S.

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