Michael Saylor, the Chairman of MicroStrategy, was recently interviewed on CNBC, where he talked about the potential of Bitcoin (BTC) to solve the United States debt problem. He even compared the cryptocurrency to early bets on Manhattan, New York City, and its economy.
Talking about a strategic Bitcoin reserve, Michael Saylor has always advocated for such in the US.
Judging by the success that the company has recorded since adopting a Bitcoin strategy, Saylor believes that the US will be making the right decision to develop a Bitcoin strategic reserve. Like Donald Trump’s plans, America may finally be equipped to clear off the $36 trillion debt.
Saylor advises the US to trade out its existing gold stock or borrow a small amount of money to buy between 20% and 25% Bitcoin. With this, he believes the capital network will flow to the US, strengthening Bitcoin alongside.
My thoughts on solving the national debt, strengthening the USD, ensuring US economic leadership via a Digital Assets Framework & #Bitcoin Strategic Reserve, $MSTR‘s inclusion in the Nasdaq 100, & value created by our treasury operations with @SaraEisen. pic.twitter.com/3Mcu2ekGe2
— Michael Saylor⚡️ (@saylor) December 16, 2024
Then, he shared an example of the purchase of Manhattan to solidify his stance on holding Bitcoin.
“I would have bought Manhattan 100 years ago, 200 years ago, every year for 300 years. You pay a little bit more than the person that bought Manhattan before you, but it’s always a good investment to invest in the economic capital of the free world.”
Just as Manhattan turned out to be a positive investment, he believes Bitcoin can also grow 100x from current levels. He said it is better for the US government to get on board now than buy expensive later.
For the last four years, MicroStrategy has adopted a Bitcoin acquisition strategy that currently runs into billions. It has even issued convertible notes to leverage its BTC purchases. On Monday, Microstrategy purchased another 15,350 BTC. This brings its total Bitcoin holdings to 439,000 units, worth about $46 billion based on the current market value of the coin.
When the interviewer asked Saylor if there is a limit to the firm’s BTC accumulation, Saylor mentioned that the firm will keep up with the accumulation.
The MicroStrategy chief feels very bullish about Bitcoin and its potential to hit millions in a few years.
He says the coin will record up to a 29% price rally every year. At this rate, BTC price should reach up to $13 million by 2045, Michael Saylor highlighted.
Noteworthy, Bitcoin price hit a new ATH above $108,000 earlier today. However, the coin is currently trading at $105,985.17, corresponding with a 2.79% increase within the last 24 hours.
Experts believe BTC holds the potential to hit millions in a few years, fueled by catalysts like Bitcoin ETF inflows, favorable regulatory framework and others.
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