Michael Saylor, the Chairman of MicroStrategy and an outspoken supporter of Bitcoin, has presented an audacious vision for how the United States might utilize Bitcoin to tackle its overwhelming $36 trillion national debt. During a recent interview on CNBC, Saylor drew comparisons between Bitcoin and the historical value of Manhattan, suggesting that investing in this digital asset today could be instrumental in securing the financial future of the nation.
Bitcoin as “Cyber Manhattan”
Michael Saylor made an intriguing analogy by likening Bitcoin to the purchase of Manhattan centuries ago. He described Bitcoin as the “economic capital of the digital world,” emphasizing its potential as a long-term investment opportunity. Saylor asserted that just as Manhattan has consistently appreciated in value over the years, Bitcoin offers a similar promise of growth and stability. Reflecting on the potential of Bitcoin, Saylor stated, “If I could go back, I’d buy Manhattan every year for 300 years.” He envisions Bitcoin growing to 100 times its current value, making it an opportune moment for the U.S. government to consider investing.
Furthermore, Saylor proposed that the United States could establish a strategic Bitcoin reserve. This could be achieved by either selling a portion of its gold holdings or borrowing a fraction of its resources to acquire Bitcoin. By holding 20–25% of its reserves in Bitcoin, the U.S. could attract global capital, strengthen the dollar, and fuel economic growth. This strategy draws parallels to MicroStrategy’s own approach to Bitcoin acquisition.
MicroStrategy Continues to Buy Bitcoin
On December 16, Michael Saylor announced that MicroStrategy had expanded its Bitcoin holdings by acquiring an additional 15,350 BTC. This latest purchase cost approximately $1.5 billion, with an average price of $100,386 per Bitcoin. As a result, the company’s total Bitcoin reserves have surged to an impressive 439,000 BTC. MicroStrategy has invested around $27.1 billion to amass this portfolio, with an average purchase price of $61,725 per Bitcoin.
Bitcoin’s Journey to $13 Million
Saylor also shared a bullish outlook on Bitcoin, predicting an annual price growth of 29%. At this pace, Bitcoin could potentially reach a staggering value of $13 million by the year 2045. However, this journey to millions depends on several factors, including ETF inflows and favorable regulatory developments.
In conclusion, Michael Saylor’s proposal for the U.S. to leverage Bitcoin as a strategic financial asset offers a visionary approach to addressing national debt and fostering economic growth. As Bitcoin continues to evolve and gain acceptance, its potential impact on the global financial landscape remains a topic of significant interest and debate.
