- Michael Saylor suggests adding Bitcoin to boost the dollar and protect property rights in the US.
- Cynthia Lummis supports Bitcoin for financial privacy and independence, opposing CBDCs for increasing government control.
- Bitcoin gained political backing from Saylor, Lummis, and Trump, highlighting its growing impact and relevance.
MicroStrategy CEO Michael Saylor has argued that the contraction of the US economy requires the acquisition of Bitcoin to be included in the us treasury to support the dollar. Thus proposal of Saylor is perfectly aligned with the American’s belief regarding ownership of private property. As per him, the Bitcoin adoption likely benefts probability, monetary privacy, and property rights, which will enhance the dollar value.
Saylor’s support for Bitcoin emphasizes the asset’s value as a store of wealth. He argues that money backed by Bitcoin would uphold core American values. Furthermore, he claims that the US Treasury would adopt Bitcoin to improve financial privacy and property rights. Saylor said that this strategy will also help the dollar gain strength.
Cynthia Lummis’ Support for Bitcoin
On the same note, a Republican senator from the United States, Cynthia Lummis is also pro-bitcoin. She speaks against the Central Banking Digital Currency (CBDC) because she understands that such a currency means more spying from the government and less autonomy in handling your money. This is why Lummis opines that Bitcoin guards privacy and freedom of money. She henceforth agreed with Saylor’s money idea that has a dollar backed by Bitcoin.
Regarding Bitcoin’s contribution to maintaining US financial independence, Lummis has been outspoken. She said on Fox Business that having control over one’s own finances requires Bitcoin. She also underlined how Bitcoin provides inflation protection and maintains the value of the dollar. This viewpoint is consistent with Saylor’s assertion that Bitcoin can hedge against financial threats.
Bitcoin’s Growing Political Influence
Bitcoin advocacy has gained traction in American politics. The subject was a major concern during the US elections in November. Donald Trump, the former president, has backed cryptocurrencies. In addition, he thinks CBDCs are bad for people’s privacy and is against them. Trump’s actions have sparked a political conversation about cryptocurrencies and brought attention to their increasing significance in US politics.
Read CRYPTONEWSLAND on
google news
Furthermore, a growing number of businesses now take digital currencies as payment. This pattern emphasizes how important cryptocurrencies are becoming to the financial system. As a result, the fact that politicians like Saylor, Lummis, and Trump support Bitcoin and its possible benefits suggests that the cryptocurrency is becoming more widely accepted.
Property rights and privacy are American values that align with Michael Saylor’s concept of a dollar backed by Bitcoin. This concept promises to support the dollar and protect financial autonomy. With the support of well-known figures such as Donald Trump and Cynthia Lummis, Bitcoin is beginning to acquire momentum in the US financial industry.
Read also:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
