30s Summary

Michael Saylor advocates for the U.S. government to establish a strategic Bitcoin reserve. He supports Senator Cynthia Lummis’s proposed bill to increase the country’s Bitcoin holdings to one million tokens over five years, drawing parallels with the U.S.’s past strategic acquisitions like Manhattan and California. Saylor believes that this could lead to possible returns in the trillions. He also outlines a scenario wherein a purchase of four million Bitcoin could yield an $81 trillion return. He is optimistic about Bitcoin’s future in the U.S., calling it “manifest destiny”.

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Michael Saylor considers it a good move for the U.S. government to create a strategic bitcoin reserve. If a bill from Senator Cynthia Lummis to do just that gets passed, Saylor thinks this could become the “deal of the century”. The government has stockpiled strategic assets before, so this wouldn’t be a novel concept.

While the idea of the U.S. accumulating bitcoin is only a suggestion for now, Saylor is confident that it should become a reality. Back in July, then presidential candidate Donald Trump promised to retain the U.S. government’s current bitcoin holdings of around 200,000 at a Bitcoin 2024 conference.

Senator Lummis then took things a step further, proposing a bill that would enhance the country’s existing bitcoin holdings to one million tokens over five years. According to Saylor, this would be a masterstroke from a financial perspective. He suggested the potential return could be in the trillions, likening it to the U.S.’s strategic acquisitions of areas like Manhattan and California in the past.

According to Saylor, bitcoin is a key asset that the government should own if alternatives to the treasury bill are ever considered. The idea of accumulating strategic assets is not new to the U.S., with previous administrations buying up assets like oil, grain, and helium for example.

Lummis’ bill stands a good chance of passing given the upcoming Republican majorities in Congress. If so, the resulting one million bitcoin purchase could generate a $16 trillion windfall for the U.S., Saylor predicts. He also proposed a potential scenario where the U.S. purchases four million bitcoin, estimating this could lead to an $81 trillion return.

Overall, Saylor is optimistic about the future of bitcoin in the U.S., deeming it – in his words – ‘manifest destiny’.