The Concept of a U.S. Bitcoin Reserve: Insights from Michael Saylor
Michael Saylor discusses the potential for the U.S. government to create a strategic reserve of Bitcoin, drawing parallels with historical government purchases.
Michael Saylor asserts that the U.S. government should establish a strategic reserve of Bitcoin (BTC). He explains that if Senator Cynthia Lummis' bill is approved, it would be the greatest deal of the 21st century. Saylor highlighted that the concept of strategic stockpiling is not new; historically, the government has executed such significant purchases.
In July, former presidential candidate Donald Trump assured enthusiasts at the Bitcoin 2024 conference of retaining the U.S. government's current holdings of approximately 200,000 bitcoin. Following this, Senator Cynthia Lummis introduced legislation to increase the nation's reserves to one million BTC over five years. Saylor noted, "The best way to protect the dollar is to ensure you retire the debt and accumulate wealth." According to him, Bitcoin is the key asset for the protection of the dollar.
Saylor cited historical events like the acquisition of Manhattan and the Louisiana Purchase, which resulted in considerable returns for the U.S., asserting that the nation should again strategically position itself for future value. He expressed confidence that the Trump administration and Senator Lummis would support the proposal.
"The idea is simple: identify where future value lies, purchase it at a low cost, and hold it. That’s what nations do. Bitcoin represents a significant opportunity for the United States."
If enacted, Lummis’ bill could yield a benefit worth $16 trillion from this acquisition, while a 'Trump Max' scenario — purchasing four million bitcoin — might return $81 trillion, as stated by Saylor.