Michael Saylor Advocates for a US Strategic Bitcoin Reserve

The creation of a strategic bitcoin reserve is “the best deal of the 21st century,” declared MicroStrategy founder Michael Saylor at the CantorCrypto conference.

Surprise! NBA legend @ScottiePippen has joined @saylor and @MikeBucella to address the crowd at #CantorCrypto. Watch now. #Bitcoin #Crypto #AI https://t.co/N73sXGCCb8

Disclaimer: The views and opinions expressed in this broadcast are those of the presenter and do not reflect the…

— Cantor (@Official_Cantor) November 14, 2024

He expressed confidence that such a structure will emerge in the US, emphasizing that the purchase of strategic assets is not new for the government. Saylor cited historical acquisitions like Manhattan, Louisiana, California, and Alaska in the 19th century. Additionally, the state has repeatedly purchased commodities such as oil, grain, and uranium.

“This has been done before. The idea is very simple: find where the value will be, buy it cheap, and hold it. You are a nation, and that’s what nations do. […] Bitcoin is destiny for the United States. I think the [future President Donald] Trump administration understands this, I think Senator [Cynthia] Lummis understands this […] that’s why it will happen,” noted the MicroStrategy founder.

With the new administration and the dominant position of Republicans in the Senate next year, the chances of creating a strategic bitcoin reserve have increased.

According to Saylor, if Lummis’s proposal to acquire 1 million BTC is accepted, the government could benefit by approximately $16 trillion. However, he also considered a “maximalist scenario,” where the US buys 4 million BTC with a potential gain of $81 trillion. The current state reserves amount to 208,109 BTC.

Galaxy Digital head Mike Novogratz does not share the certainty regarding the creation of a bitcoin reserve. In his view, inter-branch conflicts will hinder this. Nonetheless, the investor supported the idea of the government purchasing additional coins and predicted a rise in the first cryptocurrency to $500,000 if a reserve is established.

On November 11, MicroStrategy’s stock price reached $351.73, hitting a three-year high.