MicroStrategy CEO Expands $65B Bitcoin Holdings Amid Market Surge

Nobel Prize-winning economist Paul Krugman criticized the tech industry's support for President Donald Trump and JD Vance, focusing on their pro-cryptocurrency stance, particularly Bitcoin, which Krugman described as economically useless and primarily used for illicit activities like money laundering. Trump’s advocacy for a national Bitcoin reserve has been condemned by Krugman as a government bailout for an environmentally harmful and scandal-plagued industry, despite Bitcoin's limited legitimate transaction use outside the crypto ecosystem. Meanwhile, Michael Saylor, Executive Chairman of MicroStrategy, remains a prominent Bitcoin advocate, emphasizing Bitcoin as true money compared to traditional credit-based currencies and continuing a strategy of relentless Bitcoin accumulation, with his holdings reaching over $65 billion. Saylor’s influence has grown alongside Bitcoin’s rising price, which surpassed $100,000 in late 2024, with his bold prediction that Bitcoin could reach $21 million by 2046 signaling strong confidence in its future as a global store of value. This contrast highlights the polarized views on Bitcoin's role in the economy and politics, with Krugman warning of risks and misuse, and Saylor championing its potential as an independent and stable monetary asset. The debate surfaces amid broader concerns about U.S. fiscal policy and economic stability, as noted in discussions about record federal debt and monetary strategies.