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In a time of increasing national debt and economic uncertainty, MicroStrategy Co-founder Michael Saylor is advocating for an initiative: the establishment of a strategic Bitcoin reserve for the United States. The plan suggests that Bitcoin could play a role in alleviating the country’s financial burdens, and hopes are high for significant legislative backing.
On Friday, the national debt reached $35.95 trillion, as reported by data from the US Treasury website. This figure highlights a swift rate of government spending that has raised concerns among economists for several years.
In the CNBC interview, the vigorous Bitcoin advocate posited that accumulating one million Bitcoins over the next five years could shave $16 trillion off the current national debt, effectively reducing it by 45%. This bold assertion underscores Saylor’s confidence in Bitcoin as a viable financial asset that could bolster the U.S. economy.