Michael Saylor, Chairman of MicroStrategy, recently proposed Bitcoin as a solution to the United States’ $36 trillion national debt.
In an interview with CNBC, Saylor urged the government to establish a Bitcoin strategic reserve. He compared Bitcoin’s growth potential to historical investments like Manhattan, predicting substantial economic benefits.
Bitcoin Could Be US’s Modern Manhattan
Michael Saylor stressed the need for the United States to have a Bitcoin strategy like MicroStrategy did, which, according to him, was successful. He recommended that the government could sell some of its bullion reserves or take a bank loan to buy Bitcoin. Saylor said an investment of 20 to 25% of this reserve could lead to tremendous capital flow into the country.
This would improve Bitcoin and the US economy, he said.
“Being a store of value is a long-term play, and I think that the long-term trajectory of Bitcoin is that it’s a reliable store of value.”
He said that buying Bitcoin today is a rare economic opportunity, like buying Manhattan centuries ago.
MicroStrategy Sees a Massive Price Surge for BTC
Nevertheless, Saylor is convinced that Bitcoin can scale exponentially while retaining its value over time. According to him, Bitcoin’s price could surge to millions per unit by 2045 at a 29% annual increase. If this speed continues, the cryptocurrency could reach $13 million, and the US government could have a powerful debt-clearing system.
MicroStrategy’s recent Bitcoin purchases illustrate this vision. On Monday, the company acquired 15,350 BTC, which brings its total holdings to 439,000 BTC. The firm has accumulated Bitcoin over the long term for $46 billion.
MicroStrategy Continues Aggressive Bitcoin Acquisition Strategy
MicroStrategy’s Saylor reiterated the company’s commitment to no limits when accumulating Bitcoin. The only comment we have to make about this is that his Bitcoin strategy has dictated impressive results over the past four years. MicroStrategy has successfully expanded its Bitcoin reserve by relying on convertible notes.
Bitcoin’s price continues to grow consistently, boosting Saylor’s bullish stance. Bitcoin hit a new all-time high of $10,80000 before pulling back to $10,985.17, even as it has seen recent fluctuations. The price has witnessed a 2.79% increase over the last 24 hours, which is great momentum for the cryptocurrency.
Market Experts Support Bitcoin’s Future Potential
According to industry experts, Bitcoin has future growth potential even a few years later. This optimism is driven by factors such as Bitcoin ETF inflows, regulatory clarity, and increased institutional adoption. As noted earlier, the catalysts could actually push Bitcoin’s value towards Saylor’s long-term target.
Bitcoin holds special properties in Saylor’s eyes, so much so that he believes it could solve the national debt. He said that early adoption will give the US a strategic advantage, circumventing costly purchases later. Saylor, however, predicts Bitcoin will serve as the economic capital of the digital era, just as Manhattan’s historical economic success did.
