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MicroStrategy chairman Michael Saylor has highlighted that having a planned Bitcoin reserve in the United States is crucial. He claims that purchasing one million Bitcoins over the course of the next five years would pay back $16 trillion, or 45% of the nation's debt.
Saylor said accepting virtual currency would be beneficial for the U.S. economy. Bitcoin is the key to paying off all the debts, and this plan will give positive results.
Bitcoin Reserve to Reduce Debt
In a recent interview, Michael Saylor talked about the US election's Red wave and how Donald Trump's win might affect the cryptocurrency. He also spoke about MicroStrategy's intentions to fund $42 billion to purchase more Bitcoins.
According to Saylor, the United States is likely to establish a strategic Bitcoin reserve with a clear plan in the near future. At the Bitcoin 2024 conference in Nashville, President Donald Trump announced that he would devise a strategy for the US government to maintain 200,000 Bitcoins as reserves.
Cynthia Lummis presented a bill shortly after increasing the nation's digital asset reserves. Additionally, she revealed a five-year strategy to accumulate one million tokens. Senator Lummis also suggested selling some of the Fed's gold holdings to purchase one million Bitcoin.
Michael Saylor Statements
Saylor claims that if Sen. Lummis' plan is approved in its current form, buying one million Bitcoins might benefit the US by $16 trillion. The chairman of MicroStrategy stated in his interview:
“The best strategy to protect the dollar is to get wealthy and pay your debt. The next best approach to protect the dollar is ensuring you possess the treasury bill in case someone ever involves a new capital asset outside of it. That resource is Bitcoin.”
Saylor, who refers to Bitcoin's "manifest destiny" for the US, understands the reasoning. "Bitcoin should be viewed as a revolutionary digital asset that will only increase in value, just as we acquired gold, oil, and other strategic assets," he stated.
Trump Max Scenario
Citing a few major asset purchases in the past, Saylor focused that the idea of the United States buying strategic assets is not new. He also mentioned other important things in the United States over the years, such as helium, grain, oil, and gold, all of which have produced returns worth several trillions of dollars.
The Pennsylvania House just approved a bill to establish a state Bitcoin reserve. He went on to say:
“This is what nations do, and you are one of them. The United States' manifest destiny is Bitcoin. I believe that Senator Lummis and the Trump administration are aware of it. That is the reason it will occur.”
Saylor predicts a "Trump Max" scenario in which the US purchases 4 million Bitcoins, earning a total return of $81 trillion. He promoted this as the best strategy for increasing national wealth.
