Michael Saylor Advocates for U.S. Bitcoin Reserve, Labels It “Our Louisiana Purchase Moment”

• Michael Saylor supports the U.S. Bitcoin Reserve, likening it to the Louisiana Purchase and emphasizing its strategic economic potential.
• The Bitcoin 2024 conference marked a shift in Bitcoin perception, with leaders considering nation-states holding Bitcoin on balance sheets.
• Despite recent market crashes, Saylor remains bullish, predicting Bitcoin could reach $13 million per coin by 2045 and urging heavy investment.

Michael Saylor, co-founder and chairman of MicroStrategy, expressed strong support for a U.S. Strategic Bitcoin Reserve during a recent interview on CNBC. Saylor, whose company holds approximately $8 billion worth of Bitcoin, compared the potential acquisition to historical milestones like the Louisiana Purchase. 

This idea got massive support after Wyoming Senator Cynthia Lummis proposed a bill advocating for the U.S. Treasury to accumulate 1 million BTC, representing nearly 5% of the total supply.

Catalytic Events and Support from Leaders

Saylor highlighted the Bitcoin 2024 conference in Nashville as a pivotal moment for Bitcoin. The event, attended by U.S. presidential candidates, governors, senators, and House members, marked a shift in how Bitcoin is perceived. 

Saylor referred to this as a shift in the Overton window, where it became conceivable for nation-states to hold Bitcoin on their balance sheets. He argued that if governments are considering buying Bitcoin, it makes sense for institutions, corporations, and individuals to follow suit.

Historical Comparisons and Economic Justifications

Saylor likened the proposed Bitcoin reserve to Thomas Jefferson’s Louisiana Purchase in 1803 and William Seward’s acquisition of Alaska in 1867. He pointed out that these investments, initially seen as risky, ultimately proved immensely valuable. 

Saylor believes that Bitcoin, as a scarce and desirable digital property, holds similar potential for future economic growth. He emphasized that trading a portion of currency or paper for an asset that will be in high demand for decades is a strategic move.

Market Dynamics and Long-Term Investment

Despite a recent market crash that saw a significant drop in total crypto market capitalization, Saylor remains optimistic. He noted that long-term investors, such as those involved with BlackRock’s iShares Bitcoin Trust, have shown resilience by maintaining their positions during market turbulence. 

Saylor’s bullish stance on Bitcoin includes a prediction that the cryptocurrency’s price could reach approximately $13 million per coin by 2045. He urged investors to adopt a “triple maxi” approach, dedicating substantial resources to Bitcoin accumulation.

Saylor’s advocacy for a U.S. Strategic Bitcoin Reserve reflects a growing acceptance of Bitcoin among influential leaders and institutions. His comparison to historical acquisitions highlights his belief in Bitcoin’s long-term value and strategic importance.