Michael Saylor sees the Crypto Summit as key to making Bitcoin the U.S. reserve asset.
Industry leaders at the Crypto Summit will discuss regulations and crypto adoption.
The Crypto Summit aims to shape a clear framework for a U.S. Bitcoin reserve.
Michael Saylor, MicroStrategy executive chairman, once again underlined the role of Bitcoin as the basis of a U.S. strategic crypto reserve, ahead of the soon to be held White House Crypto Summit.
Saylor reiterated that Bitcoin is the sole digital asset upon which all can agree, without an issuer. And hence best suited for national reserves.
It will be hosted by President Donald Trump and chaired by White House crypto czar David Sacks. It will gather leading industry players such as Coinbase CEO Brian Armstrong, Crypto.com CEO Kris Marszalek, and Kraken CEO Arjun Sethi. The topics will cover the framework, funding, and regulation for the envisioned U.S. crypto reserve.
Why the U.S. Needs a Bitcoin Reserve?
Saylor emphasized the necessity of a strategic and open method of accumulating Bitcoin. This cites the Alumnus Bill, which suggests the purchase of one million BTC within four years. He is of the opinion that by locking up Bitcoin early, the U.S. can dominate the digital economy before other countries.
Although Trump initially proposed to include altcoins such as XRP, Solana, and Cardano in the reserve, industry opposition resulted in a clarification that Bitcoin and Ethereum would be its main assets. Saylor, however, insists that Bitcoin must be the focus, as it is a digital commodity with no central issuer.
Critics have raised the question of whether a Bitcoin reserve is needed, likening it to conventional strategic reserves such as oil or weapons. Saylor responded by framing Bitcoin as the “property of cyberspace” and a vital asset in ensuring U.S. financial leadership.
With the changing regulatory environment, Saylor encouraged the administration to have well-defined digital asset rules in place before large-scale buying. He emphasized that whatever acquisition is done, it has to be done “deliberately, progressively, and transparently.”
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