Bitcoin News: Michael Saylor Urges US to Acquire Up to 20% of Bitcoin Supply to Bolster Dollar and Offset Debt

Strategy co-founder Michael Saylor has made a bold proposal at CPAC, calling on the US government to purchase a significant portion of Bitcoin’s total supply. He believes this move could strengthen the dollar and potentially offset the national debt. Saylor warns that if the US doesn't seize this opportunity, other nations might.

Michael Saylor Urges US to Buy 20% of Bitcoin Supply to Strengthen Dollar and Offset Debt

Strategy co-founder Michael Saylor has called on the US government to acquire up to 20% of Bitcoin’s total supply, arguing that it could bolster the dollar and potentially offset the national debt. Speaking at CPAC, Saylor warned that if the US doesn't take action, other nations might seize the opportunity. He suggested that securing 4 to 6 million BTC could cover the entire US debt, although he didn't detail the execution plan.

Costa Rica Enters Crypto Investing with Banco Nacional's Bitcoin ETF

Costa Rica has taken its first official step into crypto investing, as Banco Nacional, the country's largest commercial bank, is set to launch a spot Bitcoin exchange-traded fund (ETF) through its investment arm, BN Fondos. This move marks the first time Costa Ricans will have access to a crypto investment product through the traditional banking system, signaling a significant shift in the nation's financial landscape. The bank manages over $7 billion in assets and serves more than 2.1 million customers. The Bitcoin ETF will be launched alongside a separate S&P 500 ETF, reported local media outlets. Both investment products will require a minimum investment of $100 and will be accessible in U.S. dollars rather than the Costa Rican colón.

Bitcoin Set for Breakout: Key Moment Approaches

Bitcoin, the world’s largest cryptocurrency, has been in a tight range for weeks, oscillating between approximately $106,000 and $90,500. Veteran market analyst Peter Brandt suggests a critical window between February 24 and February 26 for Bitcoin’s next major move, emphasizing significant symmetry in its current price pattern. However, he remains neutral on the direction of the breakout, acknowledging the market’s crucial juncture.

BTC Bull Token Surpasses $2.5M in ICO Funding, Tipped as Top Meme Coin

BTC Bull Token ($BTCBULL) has achieved one of the strongest ICO performances this year, raising over $2.5 million in just two weeks. This meme-based project, tied to Bitcoin's price movements, has gained early investors' attention due to its unique rewards structure. With Bitcoin's steady rise, BTC Bull Token offers investors a chance to capitalize on this momentum. The innovative token is designed to reward holders based on Bitcoin's price movements, providing a unique opportunity in the crypto market.

Utah Making Progress on Bitcoin Reserve Bill, Faces Threat from Microsoft’s Chip

Utah is making significant progress on its Bitcoin reserve bill, which has passed through the Senate Committee and is moving toward a final vote. If passed, the state could hold Bitcoin as part of its reserves, diversifying assets and exposing it to Bitcoin’s price volatility, risks, and potential gains. VanEck reports that approval of such bills could lead to a massive increase in Bitcoin demand, with projections estimating that 20 states could contribute up to $23 billion in demand.