Bitcoin News: Michael Saylor Urges U.S. to Acquire Up to 20% of Bitcoin as Strategic Reserve

Michael Saylor, founder of Strategy (formerly MicroStrategy), has called on the United States to purchase up to 20% of the Bitcoin network as a strategic financial reserve, highlighting the importance of securing a prominent position in the digital asset space.

Michael Saylor Urges U.S. to Buy Up To 20% of Bitcoin as Strategic Reserve

Michael Saylor, the founder of Strategy (formerly MicroStrategy), has advocated for the United States to acquire up to 20% of the Bitcoin network as a strategic reserve. Speaking at the Conservative Political Action Conference (CPAC) in Washington, D.C., Saylor emphasized the need for the U.S. to swiftly secure a prominent position in the digital asset space. He stated, 'There’s only room for one nation-state to buy up 20% of the network, and I think it should be the United States.' Saylor also highlighted the potential economic benefits of acquiring Bitcoin, suggesting that it could strengthen the dollar, enrich the nation, and even help pay off the national debt.

ECB Develops Blockchain Payment System for CBDC, BTC Bull Token Captures Retail Interest

The European Central Bank (ECB) is building a blockchain system to process CBDC transactions, highlighting the differing approaches between the US and EU towards crypto. ECB President Christine Lagarde rejected the idea of a European Bitcoin reserve due to BTC's volatility and its association with illicit activities. In contrast, the US has seen 20 states propose establishing crypto reserves, with President Trump and Fed Chair Jerome Powell strictly opposing CBDCs. The EU's move is the first step towards rolling out a fully functioning wholesale CBDC.

Crypto Market Rebound Nears Key Resistance

The cryptocurrency market has gained 1.3% in the past 24 hours, approaching the upper limit of its consolidation range. A move above $3.3 trillion could signal a breakout and a potential return to the $3.50 area or even all-time highs near $3.70. Bitcoin, specifically, has risen to $98,000, attempting to break above its 50-day moving average.

Bitcoin RHODL Momentum Slowing Down—Analyst Warns Pattern ‘Not Ideal’

An on-chain analyst has pointed out that the Realized HODL (RHODL) Ratio indicator is on the decline, indicating a potential negative sign for Bitcoin. The RHODL Ratio, which calculates the ratio between any two RHODL wave bands, has been losing momentum recently. HODL wave bands track the percentage of total BTC supply last moved within a specific age range, and the RHODL version adds a weighting factor based on the Realized Value, which represents the price at which a BTC token was last transacted on the blockchain.

Bitcoin Faces Resistance at $99K, Next Move Depends on Breaking Descending Trendline

Bitcoin's price movements are currently tied in a range just below the $100K level, with Open Interest (OI) playing a significant role in recent price action. The OI screener has indicated increased participation as the heatmap brightened across most crypto assets. A significant OI pivot occurred when BTC's price flipped to the 95,600-95,900 range, propelling BTC towards the next cluster of OI resistance. Bitcoin has successfully breached the 97,000 level, driven by accumulating interest. However, Bitcoin now faces resistance at $99K, and its next move depends on breaking above a descending trendline that has rejected price three times.