Michael Saylor: US To Profit Most From Crypto Adoption

  • Michael Saylor claims the US will benefit the most if the world adopts cryptocurrencies.
  • As of the end of 2021, global adoption of cryptocurrency grew by 2,300% from Q3 2019.
  • A country in the Middle East might adopt Bitcoin as a legal tender.

MicroStrategy CEO Michael Saylor claimed that the United States will benefit the most if the world adopts cryptocurrencies.

Always a Bitcoin bull, Saylor specifically mentioned the chief cryptocurrency, saying that it offers a “sound ethical, technical, and economic foundation” for the digital economy. As seen in the tweet, he also forwarded a document submitted by the Bitcoin Policy Institute to the US Department of Commerce.

The 27-page document discussed the current state of the world regarding crypto adoption. Specifically, the global adoption of cryptocurrency grew by over 2,300% since Q3 2019 and 881% in 2020. These figures were recorded toward the end of 2021.

The document added toward the end:

“Policymakers must craft a flexible framework that guards against risk and mitigates negative externalities, while simultaneously allowing a nascent technology to grow to its full potential, guided by the principles that Americans hold dearest.”

On the other hand, Bitcoin Policy Institute said that if the US does not adopt crypto, it might lose to other countries by “driving the fruits of innovation elsewhere.”

At the moment, Bitcoin is only considered local tender in two countries, namely El Salvador and the Central African Republic. Meanwhile, Prince Filip Karadjordjevic of Serbia said that an Arab country might adopt Bitcoin soon. Specifically, he said this may happen in a country in the Middle East, although he did not specify which.

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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.