Bitcoin proponent Michael Saylor has publicly stated that the European Union should consider buying Bitcoin, especially after the Euro experienced a recent drop in value. In accordance with reports, the Euro (EUR) has weakened against the USA dollar (USD) since yesterday.
The decline followed a report from the Federal Reserve that many interpreted as leaning towards lower rates of interest in the longer term. The Euro’s value fell 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 isn’t just an option, it’s the choice… The query isn’t if but when Europe will understand 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 occurred after the Fed decided to maintain rates of interest regular. These rates have remained between 4.25% and 4.50% since December. Nevertheless, Federal Reserve Chair Jerome Powell reportedly suggested the potential for a 50-basis-point rate cut before the top of 2025.
Moreover, the Central Bank has been under pressure from US President Donald Trump to chop rates of interest, claiming that that is the right plan of action.
The greenback has increased in relation to other currencies, particularly the Euro, in consequence of the rally in US stocks and bonds brought on by these dovish US sentiment.
Saylor’s Bitcoin Pitch As A Potential Hedge
Saylor, executive chairman and co-founder of MicroStrategy (now Strategy), said on social media that Bitcoin might provide a treatment amid this currency movement. In an announcement made public this week, Saylor appeared to induce the European Union to proceed swiftly with any intentions to buy BTC.
EUR gonna need BTC
— Michael Saylor⚡️ (@saylor) March 20, 2025
He implied that if the EU had held Bitcoin, it could have acted as a protection against the recent decrease within the Euro’s value. For context, the price of Bitcoin has risen by 2.6% against the US dollar within the last 24 hours, trading at $85,400, on the time of writing.
Saylor also identified how the US dollar has far outperformed the Turkish Lira (TRY) since 2021, and the way this has resulted in a big devaluation of the Turkish currency. He observed that Bitcoin has been among the many top-performing assets in the identical timeframe.
EU’s Potential Crypto Enterprise Gains Traction
A member of the European Parliament, Sarah Knafo, has recently urged the EU to contemplate establishing a strategic reserve of Bitcoin.
She highlighted the apparent success of El Salvador, a rustic that has officially adopted Bitcoin. In accordance with reports, El Salvador’s economy has been transformed through President Nayib Bukele’s adoption of Bitcoin and other forward-thinking initiatives.
Featured image from Gemini Imagen, chart from TradingView
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