Bitcoin proponent Michael Saylor has publicly stated that the European Union should consider buying Bitcoin, especially following a recent decline in the Euro’s value. Reports indicate that the Euro (EUR) has weakened against the United States dollar (USD) since yesterday.
The decline in the Euro’s strength follows a report from the Federal Reserve, interpreted by many as a signal toward potential lower interest rates in the future. The Euro’s value has decreased from a high of 1.08 against the USD on Thursday to its current level of 1.07.
“Europe gonna need Bitcoin” – @saylor
With rising debt, inflation and financial centralization — a digital euro (CBDC) set for launch in 2025 — Bitcoin is not just an option, it’s the alternative… The question is not if but when Europe will realize it. https://t.co/3AkOUnbBwY pic.twitter.com/AG01HkR4ex
— BTC Prague (@BTCPrague) March 20, 2025
Euro Under Pressure Following Fed Signals
The recent weakening of the Euro came in the wake of the Fed’s decision to maintain interest rates steady. Since December, the rates have been held between 4.25% and 4.50%. However, Federal Reserve Chair Jerome Powell hinted at the possibility of a 50-basis-point rate cut before the end of 2025.
Additionally, the Central Bank faces mounting pressure from US President Donald Trump to lower interest rates, arguing that this is the appropriate course of action.
The US dollar has strengthened against other currencies, particularly the Euro, benefitting from the rally in US stocks and bonds driven by this dovish sentiment in the US.
Saylor’s Bitcoin Pitch As A Potential Hedge
Saylor, executive chairman and co-founder of MicroStrategy (now Strategy), asserted on social media that Bitcoin may provide a safeguard amidst this currency volatility. In statements made public this week, Saylor urged the European Union to act promptly on any intentions to acquire BTC.
EUR gonna need BTC
— Michael Saylor ⚡ (@saylor) March 20, 2025
He implied that had the EU invested in Bitcoin earlier, it could have provided protection against the recent devaluation of the Euro. For context, the price of Bitcoin has increased by 2.6% against the US dollar within the last 24 hours, trading at $85,400 at the time of writing.
Saylor also highlighted that the US dollar has significantly outperformed the Turkish Lira (TRY) since 2021, resulting in a substantial devaluation of the Turkish currency, while Bitcoin has emerged as one of the top-performing assets over the same period.
EU’s Potential Crypto Venture Gains Traction
A member of the European Parliament, Sarah Knafo, has recently urged the EU to contemplate establishing a strategic reserve of Bitcoin.
She cited the evident success of El Salvador, which has officially adopted Bitcoin. Reports indicate that El Salvador’s economy has been transformed through President Nayib Bukele’s forward-thinking approach to Bitcoin and associated initiatives.
Featured image from Gemini Imagen, chart from TradingView
