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. According to reports, the Euro (EUR) has weakened against the United States dollar (USD) since yesterday.
The decline followed a report from the Federal Reserve that many interpreted as leaning towards lower interest rates in the future. 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 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 occurred after the Fed decided to keep interest rates steady. These rates have remained between 4.25% and 4.50% since December. However, Federal Reserve Chair Jerome Powell reportedly suggested the possibility of a 50-basis-point rate cut before the end of 2025.
Furthermore, the Central Bank has been under pressure from US President Donald Trump to cut interest rates, claiming that this is the proper course of action.
The greenback has increased in relation to other currencies, particularly the Euro, as a result 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 remedy amid this currency movement. In a statement made public this week, Saylor appeared to urge the European Union to proceed swiftly with any intentions to purchase 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 in the Euro’s value. For context, the price of Bitcoin has risen by 2.6% against the US dollar in the last 24 hours, trading at $85,400, at the time of writing.
Saylor also pointed out how the US dollar has far outperformed the Turkish Lira (TRY) since 2021, and how this has resulted in a significant devaluation of the Turkish currency. He observed that Bitcoin has been among the top-performing assets in the same timeframe.
EU’s Potential Crypto Venture Gains Traction
A member of the European Parliament, Sarah Knafo, has recently urged the EU to consider establishing a strategic reserve of Bitcoin.
She highlighted the apparent success of El Salvador, a country that has officially adopted Bitcoin. According to 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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