Michael Saylor Says EU Will Need Bitcoin Amid Euro Crash
Bitcoin evangelist Michael Saylor has fronted the need for the European Union to take the orange pill amid recent currency downside.Since yesterday, the Euro (EUR) has lost its cool against the United States dollar (USD) amid a dovish report from the Federal Reserve System (Fed). Notably, EUR has retraced from a high of 1.0945 on Wednesday to its current price valuation of 1.08255 against the US dollar.Meanwhile, the correction has drawn the attention of Bitcoin evangelist Michael Saylor, who insinuated that Bitcoin could help. In a tweet today, the Strategy executive chairman appeared to be urging the European Union (EU) to fast-track any effort to purchase Bitcoin.EUR Gonna Need BTCThe Fed maintained interest rates again on Wednesday, keeping them between 4.25% and 4.50%. While the funding rates have remained unchanged since December, Chair Jerome Powell hinted at a 50-basis-point cut before the end of 2025.Moreover, US President Donald Trump is pressuring the Central Bank to cut rates. He insisted that the Fed was better off cutting rates, arguing it was the right thing to do.The dovish sentiments saw the US stocks and bonds rally, with the USD strengthening against other currencies. While the dollar gained momentum, Bitcoin has covered more ground against the most heavily traded currency in the world.For perspective, the pioneering cryptocurrency is up 3% in the past 24 hours against the US dollar, trading at $85,391 at the time of writing. As a result, Saylor insinuated that the orange pill would have hedged the Euro correction as a reserve asset.It bears mentioning that the Bitcoin maxi painted a similar picture yesterday, but with the US dollar against the Turkish Lira (TRY). The chart showed that the USD has outperformed the TRY since 2021, extensively devaluating the currency. However, BTC has been one of the best-performing high-caliber assets in the world in that same timeframe.
Text source: The Crypto Basic
