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Mustafa Mulla
Mustafa Mulla
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
- Dec 17, 2024 05:48 UTC
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Michael Saylor’s Bold Plan: Can Bitcoin Solve the U.S. $36 Trillion Debt Crisis?
Michael Saylor compares Bitcoin to Manhattan's historical value, predicting exponential long-term growth.
Saylor urges the U.S. to reserve 20–25% in Bitcoin to attract global capital.
Saylor projects Bitcoin could reach $13 million by 2045, growing 29% annually.
Michael Saylor, Chairman of MicroStrategy and a well-known Bitcoin advocate, has proposed an ambitious solution: the United States can use Bitcoin to tackle its massive $36 trillion national debt. Speaking in a recent CNBC interview, Saylor compared Bitcoin to Manhattan’s historical value and suggested that investing in the cryptocurrency now could secure the nation’s economic future.
Let’s understand his ideas in detail.
Bitcoin as “Cyber Manhattan”
Saylor compared Bitcoin to the purchase of Manhattan centuries ago, describing it as the “economic capital of the digital world.” He highlighted Bitcoin’s long-term potential, suggesting its value will continue to rise just as Manhattan’s land value has grown over time.
“If I could go back, I’d buy Manhattan every year for 300 years,” Saylor said.
He believes Bitcoin could grow to 100 times its current value, making now the best time for the U.S. government to invest.
A National Bitcoin Reserve?
To capitalize on Bitcoin’s growth, Saylor proposed that the U.S. establish a strategic Bitcoin reserve. He suggested that the government could fund this by either selling a small portion of its gold reserves or borrowing a fraction of its financial resources to acquire Bitcoin.
Saylor explained that holding 20–25% of national reserves in Bitcoin could attract global capital, strengthen the U.S. dollar, and drive economic growth. He pointed to MicroStrategy’s own aggressive Bitcoin acquisition strategy as a proven model for success.
Institutions are fueling Bitcoin’s rise—read Bitcoin price prediction to discover where this unstoppable surge is headed next!
MicroStrategy’s Latest Bitcoin Purchase
On December 16, Michael Saylor announced that MicroStrategy had purchased another 15,350 BTC. The latest acquisition cost around $1.5 billion, with an average purchase price of $100,386 per Bitcoin.
Meanwhile, this new acquisition boosts the company’s total Bitcoin reserves to an impressive 439,000 BTC. MicroStrategy has spent about $27.1 billion to build this portfolio, with an average purchase price of $61,725 per Bitcoin.
A Bullish Outlook for Bitcoin
Saylor remains highly confident about Bitcoin’s future. He predicts that Bitcoin could achieve an annual price growth rate of 29%. If this projection holds, Bitcoin could reach an incredible $13 million per coin by 2045.
However, Saylor noted that Bitcoin’s path to such massive growth depends on key factors, such as institutional ETF inflows and favorable regulatory policies.
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If history repeats itself, Bitcoin may become the Manhattan of the 21st century—only this time, it’s digital and global.
FAQs
MicroStrategy owns 439,000 BTC, purchased for $27.1 billion, representing 2% of all Bitcoin in existence.
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