MicroStrategy Founder Michael Saylor stated at the Miami Crypto Event that it is the “manifest destiny” for the United States to establish a Bitcoin strategic reserve, similar to past gold and land acquisitions. He predicted that Senator Lummis’s proposed bill to purchase 1 million BTC will pass, describing it as the greatest deal of the 21st century.
(Pre-story: [U.S. to Buy 1 Million BTC in 5 Years] Senator Lummis’s Bitcoin Reserve Bill Emerges, Where Will the Funds Come From?)
(Background: MicroStrategy’s Perfect BTC Profit Practice! Unrealized Gains Exceed $10 Billion, Michael Saylor Hints at “Further Purchases”)
Since Trump’s election as president, the cryptocurrency market has seen consecutive gains, with Bitcoin even surpassing $90,000. The market anticipates a more crypto-friendly regulatory environment under Trump’s administration and the vision of incorporating Bitcoin into the U.S. strategic reserve assets.
In response, staunch Bitcoin believer Michael Saylor said on Thursday at a cryptocurrency event in Miami that the idea of the U.S. purchasing strategic reserve assets is not new; the government has taken many such actions in the past. He recalled several major land acquisitions in the 19th century, such as Manhattan, Louisiana, California, and Alaska, which brought trillions of dollars in benefits to the United States.
Saylor also mentioned that strategic purchases like gold, oil, grains, and helium have occurred multiple times in the nation’s history. He stated:
Saylor further emphasized:
In summary, Saylor believes the U.S. should establish a Bitcoin strategic reserve. He indicated that the most effective way to protect the dollar is to pay off national debt and accumulate wealth. Second, the next best way to protect the dollar is to ensure you hold any capital asset that could potentially replace Treasury bills if it appears in the market. He pointed out that such an asset is Bitcoin.
Note: In 19th-century America, “Manifest Destiny” was a belief that the United States had a divine mission to expand its territory. This concept emerged in the 1840s, asserting that the U.S. was divinely entrusted to extend its territory and influence across North America. This idea was used to justify territorial expansions into the western regions, including Mexican territories, and became a key ideological foundation for the westward movement.
Additionally, Saylor believes that the proposal by Senator Cynthia Lummis for the U.S. Treasury to purchase 1 million BTC over five years will pass because the Republicans will have a majority in both chambers next year. He stated that if this bill becomes reality, it will be the “greatest deal of the 21st century,” and he expects the U.S. to gain up to $16 trillion in economic benefits from this action.
Saylor also described a “Trump Max” scenario, where the country would purchase 4 million BTC. He believes this could generate up to $81 trillion in economic returns and stated that the Trump Max strategy is a rational choice.
As for where the funds to purchase 1 million BTC will come from, according to Bloomberg, Lummis said there is a plan to buy Bitcoin without increasing the government deficit, which involves selling part of the Federal Reserve’s gold. She stated:
According to Lummis’s bill, Bitcoin will be held for at least 20 years, and the assumption is that its value appreciation will help reduce U.S. national debt. At current market prices, these purchases will cost about $90 billion, but if the bill passes and investors buy ahead of the government, this amount could increase.
Whether the U.S. Bitcoin strategic reserve will ultimately pass remains to be seen.
Further Reading: [U.S. to Buy 1 Million BTC in 5 Years] Senator Lummis’s Bitcoin Reserve Bill Emerges, Where Will the Funds Come From?
Matt Huang, co-founder of the crypto venture firm Paradigm, commented that the game theory equilibrium for BTC adoption has changed:
Matt Huang emphasized that the window for the U.S. to adopt Bitcoin has opened, and other sovereign nations will no longer wait. Countries that establish Bitcoin reserves early will benefit from lower entry prices. He concluded that the race to establish Bitcoin reserves has begun.
