Make America Bitcoin-Rich Again!

Michael Saylor believes the US should buy up 20% of the BTC network.

Author

Danielle du Toit
February 21, 2025

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Here's what we've got for you today:

  • Strategy’s Michael Saylor Says the US Should Aim to Hold 20% of Bitcoin

  • XRP Price Action Strengthens Amid ETF Buzz and SEC Developments

  • Survey Says Australians Split on Trump’s Effect on Crypto

  • Litecoin Txs Surge 243% in 5 Months Amid ETF Hype: Santiment

Michael Saylor believes it is extremely important for America to have a strategic Bitcoin reserve, and suggested that it should buy up 20% of the BTC network.

  • At the CPAC conference on Feb. 20, Saylor argued that the US should buy 20% of the Bitcoin network, which is equivalent to around 4 million BTC, to strengthen the dollar and enrich the nation.

  • Saylor also suggested that if the US owned 4-6 million BTC, it could potentially pay off the national debt.

  • He warned of the risks of other nations, like Saudi Arabia, Russia, China, or Europe, accumulating Bitcoin before the US, and implied that there may be geopolitical and economic disadvantages if the US does not act first.

 XRP's recent price momentum can largely be attributed to the fact that the SEC recently acknowledged yet another spot XRP ETF filing.

  • Some analysts predict XRP could surge to $6 in the next ten days, based on the assumption that the SEC lawsuit against Ripple will be resolved before the end of February.

  • XRP analyst Dom pointed out a critical resistance zone between $2.50 and $2.80, with the all-time high volume-weighted average price (VWAP) acting as a major barrier just above $2.80.

  • For now, analysts agree that a decisive daily close above $2.80 will be the first major step for XRP to establish new highs or retest its previous all-time high.

According to a survey conducted by Australian crypto exchange Independent Reserve, only 31% of Australians believe Trump is good for the crypto sector.

  • This sentiment was very different among crypto investors as 50% view Trump favorably for his impact on the industry, while 44% remain neutral and only 6% hold a negative outlook.

  • Among non-crypto investors, only 20% see Trump as a positive influence, with 10% expressing negative views.

  • The most committed crypto investors, those investing AU$10,000 per month, had no negative views on Trump, and have strong confidence in his policies driving crypto adoption and innovation.

📈 Litecoin Txs Surge 243% in 5 Months Amid ETF Hype: Santiment

Daily transactions on the Litecoin network hit $9.6 billion per day as ETF issuers are making moves to list their proposed Litecoin ETFs in the United States.

  • LTC’s market capitalization surged by 46% from Feb. 2 to 19, driven by increased investor interest and rising network utility, according to Santiment.

  • Litecoin’s daily transaction volume also reached $9.6 billion over the past week, which is a 243% increase from late August when it stood at $2.8 billion.

  • Additionally, LTC doubled in price since early November, outperforming the broader crypto market due to growing anticipation around a potential Litecoin ETF boosting sentiment.

👀 QUICK NEWS

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