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Michael Saylor Calls on the US Government to Become the Major Owner of Bitcoin Michael Saylor, a prominent Bitcoin advocate, recently stated that the US government should own the majority of the world’s Bitcoin. At the Bitcoin 2024 conference, he predicted that Bitcoin’s market cap could skyrocket to $280 trillion by 2024, a more than 200-fold increase from current levels. This prediction echoes his previous assessment that Bitcoin’s market cap could exceed $100 trillion, with each coin potentially worth $5 million. To achieve such dominance, the US government would need to own 10.5 million BTC, worth approximately $711 billion. The US government currently owns 208,898 BTC seized from criminal activity, worth $14 billion. An acquisition of this magnitude would represent a major shift in the financial landscape and could potentially strengthen the US dollar and increase its role in international trade. Saylor’s vision is consistent with the views recently voiced by independent US presidential candidate Robert F. Kennedy Jr. that the US government should have a similar amount of Bitcoin to its gold reserves. The Federal Reserve currently holds 8,134 metric tons of gold, worth $615 billion. Kennedy suggests that having significant Bitcoin reserves could support the US dollar as a stable asset portfolio. Saylor also supports this view, citing the strategic and economic benefits of historical decisions such as the construction of the Port of New York. For example, the construction of the Port of New York significantly increased international trade for the US. Similarly, large #Bitcoin holdings could strengthen the dollar and solidify US global financial dominance. This potential move would be unprecedented and would indicate a forward-thinking approach to economic stability and growth in the face of the increasing importance of digital currencies. He cites similar examples of economically sound decisions.

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Bitcoin Price Surge Raises Investor Sentiment to 16-Month High Amid Trump’s Crypto Advocacy The recent surge in #Bitcoin prices has boosted investor confidence, sending the cryptocurrency to a 16-month high. Social media analytics show a massive increase in positive comments about the cryptocurrency, reinforcing the bullish trend. The massive 20% increase in three weeks reflects the growing optimism, and Bitcoin is currently trading at $67,708—a significant 6.22% gain since July 25. According to data from Santiment, Bitcoin’s Weighted Sentiment Index—which measures positive and negative comments—has risen to its highest level since March 2023. This positive sentiment shift coincides with talk that Bitcoin could reach a new all-time high. Former US President Donald Trump’s expected speech at the Bitcoin 2024 Conference has also added to the bullish expectations; Trump has proposed ambitious goals aimed at making the US a leader in cryptocurrency. Comparing #Bitcoin to gold, this digital asset has had a tangible impact on market sentiment. Following Trump’s speech, well-known crypto advocate Senator Cynthia Lummis introduced a bill that aims to create a strategic #Bitcoin reserve. The bill proposes that the US government purchase and hold 5% of the global Bitcoin supply for at least twenty years. This move has also created additional bullish sentiment in the market. The Crypto Fear and Greed Index has increased by 24 points to 71 since June 28, indicating that the prevailing mood among market participants is greed. This is a significant change from the downtrend when Bitcoin was trading around $65,000 on June 21. The weighted sentiment has shifted from negative to positive, in line with the recent price increase.

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Tron Founder Justin Sun Addressed Elon Musk on Bitcoin (BTC)! Justin Sun, one of the most important actors in the cryptocurrency sector, is attracting the attention of cryptocurrency investors with the steps he has taken. As of today, Sun has made some suggestions to Elon Musk, the richest businessman in the world, on Bitcoin. A short time ago, X/Twitter, owned by Musk, removed all crypto emojis, including Bitcoin (BTC). Although it was thought that this was an update in the early days, these emojis have not returned for a while. Tron founder Sun recently addressed Elon Musk on this issue via his X/Twitter account and conveyed the following words: “The Bitcoin emoji, which is a tradition for the Bitcoin community, has disappeared on X. Hey Elon Musk, yesterday President Trump said that Bitcoin could exceed its market value. We humbly request that this tradition be revived and are ready to meet any requirements. Elon Musk is known as a business leader who is the most protective of cryptocurrencies and understands the Bitcoin community. His adoption of Bitcoin was much earlier than President Trump's. I definitely believe that the BTC emoji on X will be brought back soon." Will Elon Musk bring back the Bitcoin emoji on X/Twitter in the coming period? It is a matter of curiosity...

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Bitcoin Price Surges During Trump’s Speech at Nashville Conference Bitcoin experienced sharp price movements over the weekend. BTC saw a $2,000 drop shortly after President Joe Biden announced his decision to withdraw from the 2024 presidential race. BTC then surged more than $3,000 to reach $68,400 on Monday. However, this upward trend did not last long and the price fell to $63,400 on Thursday. Then, a recovery followed, and the value approached $68,000 on Saturday. Trump’s speech at the Nashville conference sent #BTC prices above $69,300, a seven-week high. However, volatility continued, with Bitcoin fluctuating between $66,500 and $69,000 before settling around $67,500. Most alternative coins have suffered significant losses in the past 24 hours. Among the leading cryptocurrencies, Ethereum (ETH) and Binance Coin (BNB) fell by about 1.5%. ETH fell to $3,225, while BNB fell to $578. Similarly, Solana (SOL), Cardano (ADA), Shiba Inu (SHIB), Polkadot (DOT), and Chainlink (LINK) were also in a downtrend. Dogecoin (DOGE), Toncoin (TON), and Avalanche (AVAX) in particular fell by 3-4%, while NEAR, WIF, Aptos (APT), and Render (RNDR) fell by up to 6%. Amid these declines, some altcoins such as XRP, TRX, and Bitcoin Cash (BCH) showed resilience, with BCH in particular gaining 3.5%. The total market value of all cryptocurrencies decreased by $30 billion overnight, falling below $2.520 trillion. Despite the recent volatility, Bitcoin’s market dominance has risen to 52.9%, reflecting the relatively stronger performance of #BTC relative to alternative coins during this period.

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📢 Donald Trump's Bitcoin Conference Speech Summary: • I will fire Gary Gensler on day one and appoint a new SEC Chair. • If elected, I will create a strategic national Bitcoin reserve for the US Government. • The US Government will hold 100% of all Bitcoin it owns. • Bitcoin is going to the moon. • Never sell your Bitcoin. • Bitcoin will likely one day surpass the market value of Gold. • I reaffirm my promise to commute Ross Ulbricht's sentence. • There will never be a CBDC while I am President of the United States. • If elected, Bitcoin and crypto will soar faster than ever. • Bitcoin does not threaten the dollar, the current US government threatens the dollar. • The United States will be the crypto capital of the planet and the Bitcoin superpower of the world. • Bitcoin represents freedom, sovereignty, and freedom from government oppression and control. • I pledge to end Joe Biden and Kamala Harris' anti-crypto crusade.

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