{"id":353146,"date":"2024-07-27T05:04:15","date_gmt":"2024-07-26T23:34:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=353146"},"modified":"2024-07-27T05:04:15","modified_gmt":"2024-07-26T23:34:15","slug":"microstrategys-saylor-says-first-country-to-buy-bitcoin-by-issuing-currency-wins-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/microstrategys-saylor-says-first-country-to-buy-bitcoin-by-issuing-currency-wins-crypto-news\/","title":{"rendered":"MicroStrategy’s Saylor says first country to buy Bitcoin by issuing currency ‘wins’ – Crypto News"},"content":{"rendered":"
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MicroStrategy<\/a> executive chairman Michael Saylor<\/a> said Bitcoin could help solve half the world\u2019s economic problems, especially for countries struggling with challenges related to rising national debt.<\/p>\n

Saylor made the statement during his presentation at the Bitcoin2024 conference, where he emphasized the transformative potential of Bitcoin and its role in reshaping the global economy with digital capital<\/a>.<\/p>\n

He said:<\/p>\n

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\u201cThe world, as we know it, is based on 20th-century ideas and technology. If we want to prosper in the 21st century, we need new ideas based on new technology.\u201d<\/p>\n<\/blockquote>\n

Saylor\u2019s presentation included a discussion on the future value of Bitcoin. He projected that by 2045, Bitcoin could reach $13 million per coin<\/a>, based on a conservative annual growth rate.<\/p>\n

He\u00a0encouraged individuals, corporations, and nations to adopt Bitcoin as a primary treasury asset and utilize it for long-term capital preservation.<\/p>\n

Nations and Bitcoin<\/h2>\n

Saylor advocated reallocating treasury reserves from gold and bonds to Bitcoin, issuing currency and debt to buy Bitcoin, and enacting favorable laws to encourage Bitcoin ownership. He suggested that the first country to fully embrace Bitcoin could gain a significant economic advantage.<\/p>\n

According to Saylor:<\/p>\n

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\u201cThe first country to buy Bitcoin by issuing its own currency wins.\u201d<\/p>\n<\/blockquote>\n

He explained how nations, especially those with significant debt, could use Bitcoin to solve their economic problems. He proposed a strategy where indebted countries could reallocate their treasury reserves from short-term assets like gold and bonds to Bitcoin, a long-term digital asset.<\/p>\n

By doing so, these countries could leverage Bitcoin\u2019s growth potential<\/a> to pay off debt and even achieve economic prosperity.\u00a0He outlined several strategies for nations to adopt Bitcoin, ranging from modest allocations to aggressive investments.<\/p>\n

The \u201cmaxi\u201d strategy involves putting a third of a nation\u2019s treasury into Bitcoin, while the \u201cdouble maxi\u201d strategy suggests a 65% allocation. The most aggressive approach, the \u201ctriple maxi\u201d strategy, recommends placing all treasury assets into Bitcoin and issuing debt to acquire even more.<\/p>\n

Saylor succinctly explained:<\/p>\n

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\u201cThe normie strategy is you owe $3 trillion. You\u2019re not getting anywhere. The maxi strategy pays off your debt. The double maxi strategy makes you rich. The triple maxi strategy makes you very rich. Why? Because you\u2019re buying the property that everybody is running to in 100 years and you just go buy it now.\u201d<\/p>\n<\/blockquote>\n

Archaic systems<\/h2>\n

Saylor\u2019s presentation highlighted the inefficiencies of the current financial system, which he described as slow and expensive. He pointed out that global wealth is estimated at $900 trillion, with Bitcoin representing a mere $1 trillion of that amount.<\/p>\n

Saylor emphasized that the global economy\u2019s reliance on outdated systems cripples capital preservation, saying:<\/p>\n

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\u201cThe global economy struggles because we\u2019re relying upon imperfect assets and imperfect systems to store that capita. It\u2019s crippling our capital preservation.\u201d<\/p>\n<\/blockquote>\n

He discussed the concept of \u201cthe physics of money,\u201d likening energy to money or capital, and discussing the importance of money\u2019s \u201clifespan.\u201d\u00a0He compared various assets, from currencies like the Turkish lira and the US dollar to physical assets like gold and real estate, highlighting their vulnerabilities to inflation, depreciation, and other factors.<\/p>\n

In contrast, he portrayed Bitcoin as an \u201cimmortal, immutable, and immaterial\u201d form of capital that offers a significantly longer lifespan and greater resilience.<\/p>\n

According to Saylor:<\/p>\n

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\u201cBitcoin is digital capital. It\u2019s got an infinite lifespan. It\u2019s not being attacked by the forces of weather, entropy, and inflation. It solves the problem that we\u2019re all facing.\u201d<\/p>\n<\/blockquote>\n

Mentioned in this article<\/h6>\n
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Latest Alpha<\/span> Market Report<\/h6>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

MicroStrategy executive chairman Michael Saylor said Bitcoin could help solve half the world\u2019s economic problems, especially for countries struggling with challenges related to rising national debt. Saylor made the statement during his presentation at the Bitcoin2024 conference, where he emphasized the transformative potential of Bitcoin and its role in reshaping the global economy with digital […]<\/p>\n","protected":false},"author":2,"featured_media":186287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-353146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/353146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=353146"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/353146\/revisions"}],"predecessor-version":[{"id":353148,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/353146\/revisions\/353148"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/186287"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=353146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=353146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=353146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}