According to Cointelegraph, Michael Saylor, founder of Strategy (formerly MicroStrategy), said at the CPAC Conservative Movement Conference in Washington, D.C., that the United States should establish a strategic reserve of bitcoin, proposing to acquire a 20% share of the bitcoin network. Michael Saylor pointed out that at current prices, 20% of the supply in circulation is about 4 million bitcoins, worth about $392 billion. He believes that if the United States holds 400-6 million bitcoins, it will help pay off the national debt. By comparison, the US Strategic Petroleum Reserve is about 395 million barrels and is valued at only $29 billion.