MicroStrategy CEO Michael Sailor has suggested that high-poverty countries buy BTC and launch bitcoin-backed currencies to boost their economies.
Michael Saylor published on Twitter a video advising the governments of Nigeria and Zimbabwe to invest in the first cryptocurrency. According to him, if these countries buy BTC for $ 2-3 billion, this will solve the problems associated with the weakening of state currencies, end hunger and provide a decent life for citizens. Sailor also suggested that if Turkey buys $ 5 billion worth of BTC and stores it for five years, it would significantly strengthen the Turkish lira exchange rate.
Sailor has always advocated long-term storage of bitcoin. In May, he stated that despite the volatility of the cryptocurrency market, he did not sell “a single Satoshi.” MicroStrategy still continues to buy bitcoin and owns over 108,000 BTC.
“To improve life in Nigeria or Zimbabwe, the leaders of these countries need to buy bitcoins worth $ 2 billion or even $ 3 billion. Then the citizens of these countries will stop starving to death. It is worth thinking about issuing currencies backed by bitcoin, because bitcoin can already be considered a standard, ”Sailor said.
So, on September 7, after the recognition of bitcoin as a legal tender in El Salvador, the country’s government purchased 400 BTC. However, many countries consider it more appropriate to explore the possibility of launching digital central bank currencies. Regulators fear that private cryptocurrencies could be so firmly embedded in everyday life and e-commerce that people will not have a need for fiat currencies.
Sailor previously compared Bitcoin to digital property and stated that investing in the first cryptocurrency is much more attractive than investing in gold.
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