- December 17, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Michael Saylor’s Bold Plan: Can Bitcoin Help the US Pay Off Its $36 Trillion Debt? appeared first on Coinpedia Fintech News
Michael Saylor, Chairman of MicroStrategy and a vocal Bitcoin advocate, has laid out a daring vision for how the United States can use Bitcoin to address its staggering $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 today could secure the nation’s financial future.
Bitcoin as “Cyber Manhattan”
Drawing parallels to the purchase of Manhattan centuries ago, Saylor described Bitcoin as the “economic capital of the digital world.” He argued that as Manhattan consistently grew in value, Bitcoin offered a similar long-term investment opportunity.
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
“If I could go back, I’d buy Manhattan every year for 300 years,” Saylor said. He believes Bitcoin has the potential to grow 100 times its current value, making now the best time for the U.S. government to invest.
Further Saylor suggested that the U.S. create a strategic Bitcoin reserve, either by selling part of its gold holdings or borrowing a fraction of its resources to acquire Bitcoin.
According to Saylor, holding 20–25% of its reserves in Bitcoin would attract global capital, strengthen the dollar, and fuel economic growth. He likened this strategy to MicroStrategy’s own Bitcoin acquisition approach.
MicroStrategy Continues to Buy Bitcoin
On 16 Dec, Michael Saylor announces that MicroStrategy has added another 15,350 BTC to its Bitcoin holdings. The latest purchase cost approximately $1.5 billion, with an average price of $100,386 per Bitcoin.
BREAKING: MicroStrategy acquires 15,350 $BTC for $1.5B, raising its total stash to 439,000 #Bitcoin.
— Michael Saylor
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.
Bitcoin’s Journey to $13 Million
Saylor shared his bullish outlook for Bitcoin, predicting an annual price growth of 29%. At this rate, Bitcoin could reach a staggering $13 million by 2045. However, Bitcoin’s journey to millions hinges on factors like ETF inflows and favorable regulations
