Michael Saylor Reveals Bitcoin’s Use Within the US Treasury

MicroStrategy’s executive chairman, Michael Saylor, has again promoted Bitcoin, suggesting its use within the US Treasury.

Nothing is more American than privacy, property rights, and a dollar backed by #Bitcoin. pic.twitter.com/lCS44FT38i

— Michael Saylor (@saylor) July 12, 2024

In a July 12 X post, Saylor advocated for a dollar backed by Bitcoin, citing the cryptocurrency’s alignment with American values like privacy and property rights.

Saylor’s remarks responded to US Senator Cynthia Lummis’s opposition to central bank digital currencies (CBDCs). Lummis, in a Fox Business interview, emphasized Bitcoin’s role in preserving American financial sovereignty and personal control over finances.

Both Saylor and Lummis highlight efforts to enhance the US financial system through Bitcoin, offering a hedge against inflation and increasing financial privacy via decentralization.

Saylor is known for his strong support of Bitcoin, with MicroStrategy making significant investments in the cryptocurrency. Senator Lummis, a consistent Bitcoin advocate, promotes policies that protect individual financial freedom.

The Bitcoin push gains attention as cryptocurrencies become a hot topic for the upcoming US elections. Former President Donald Trump has also expressed support for the crypto sector and opposed the launch of a CBDC due to privacy concerns.

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