The post MicroStrategy CEO Michael Saylor Buys $2B BTC appeared on BitcoinEthereumNews.com.

Bitcoin dropped 3.6% despite Strategy purchasing $1.99 billion worth of BTC, as bearish technical indicators show further downside risks. Michael Saylor proposed a Bitcoin reserve plan to the SEC, which could generate trillions for the U.S. Treasury and help manage the national debt. Bitcoin’s price fell 3.6% on Monday, trading near $93,585, even as Strategy (formerly MicroStrategy) acquired an additional $1.99 billion worth of BTC. Since its latest Bitcoin acquisition, Strategy now holds a total of 499,096 BTC, making it the biggest corporate Bitcoin owner. However, market sentiment remains weak amid technical bearish indicators and concerns surrounding a recent security breach at Bybit. Michael Saylor, executive Chairman of Strategy, presented Bitcoin strategic reserve recommendations to the U.S. Securities and Exchange Commission (SEC). Through this proposal, the country targets debt reduction by utilizing Bitcoin as an asset reserve. According to Saylor’s assessment, a 20% control of Bitcoin’s supply would yield between $16 trillion and $81 trillion for America’s Treasury, thus securing the country’s economic stability. 🚨NEW: @saylor met with the @SECGov #crypto task force on Friday. pic.twitter.com/KkLfb5Mf2Q — Eleanor Terrett (@EleanorTerrett) February 24, 2025 Michael Saylor’s Bitcoin Strategic Reserve Proposal Saylor’s framework, part of his Digital Assets Framework introduced in December 2024, categorizes digital assets into six groups: Digital Commodities, Digital Securities, Digital Currencies, Digital Tokens, Digital NFTs, and Digital ABTs. Bitcoin belongs to the Digital Commodities category since it lacks a central controlling authority. The proposal contains two key provisions, including annual maintenance expenses limited to 10 basis points and compliance costs restricted to 1% of managed assets. Strategy continues expediting its purchase of Bitcoin, recently acquiring 20,356 BTC at an average cost of $97,514 per BTC. Following these purchases, the company’s total Bitcoin investment reaches $33.1 billion, at an average cost of $66,357 per Bitcoin. Strategy has acquired 20,356…

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Filed under: News - @ February 26, 2025 10:25 am