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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. https://t.co/7n7jQqPkf1— Michael Saylor ⚡ (@saylor) December 20, 2024
As the American economy wobbles on its foundations, some see an unprecedented launching pad: bitcoin. With his eternal refrain “Make America Great Again”, Donald Trump dreams of a radical solution involving massive budget cuts and the creation of a strategic reserve in BTC. Michael Saylor from MicroStrategy believes that this flagship crypto could transform the economic future of the United States, but the path is fraught with obstacles.
Bitcoin: the flagship crypto for a prosperous America?
Michael Saylor, president of MicroStrategy, envisions a future where the United States would dominate the digital market through a bold strategy: adopting Bitcoin as a national reserve. This plan, worthy of a Hollywood blockbuster, could generate up to 81 trillion dollars and transform the United States into the global economic leader of the 21st century.
According to Saylor, the potential of bitcoin relies on its scarcity and growing adoption. He claims that this strategy could not only strengthen the dollar but also reduce national debt and open massive opportunities for businesses. He specifies:
- A global digital market that would grow from 2 trillion to 280 trillion dollars;
- A possible surge in BTC price to 500,000 dollars,
- A financial windfall of 16 to 81 trillion for state coffers.
But this dream has its detractors. Peter Schiff, famous for his aversion to bitcoin, considers this idea absurd. “This would weaken the dollar, worsen the debt, and hamper economic growth“, he argues.
Between promises and controversies, bitcoin has never stirred passions so much.
The price of BTC: key to an uncertain future
The success of Saylor’s plan is closely tied to the future value of bitcoin. To reach the 500,000 dollars he predicts, BTC must overcome gigantic obstacles, notably the volatility that makes many tremble.
This meteoric rise could be promoted by a strategic adoption of bitcoin at the national level, but uncertainties remain.
Peter Schiff continues to play the party pooper by opposing his unwavering attachment to gold to this utopian vision, which he sees as a much safer haven.
However, countries like El Salvador show that adopting bitcoin can transform an economy, even if the United States operates on a completely different scale.
If the BTC rate becomes the economic compass of the country, the implications would be colossal, between massive enrichment and systemic risks. Is the volatility of Bitcoin really compatible with the role of a strategic asset?
A question that will remain open, at least until Congress decides to make a decision.
To take advantage of Bitcoin’s promises, Trump will first have to tackle a very real monster: the national debt of 34 trillion dollars. Perhaps by 2025, Elon Musk’s DOGE department will provide an unexpected boost to get the American economy back on track.