Michael Saylor, founder of MicroStrategy, said at a Miami crypto event that it is imperative for the United States to establish a strategic reserve of Bitcoin, similar to gold and land acquisitions in the past. He predicted that Senator Lummis’ bill to purchase 1 million BTC would pass, describing it as the greatest deal of the 21st century. (Preliminary summary: The United States is required to buy 1 million BTC in 5 years) Congressman Lummis’s Bitcoin reserve bill is released. Where will the funds come from? ) (Background supplement: The perfect practice of micro-strategy BTC profit! The floating profit has exceeded 10 billion magnesium, and Michael Saylor hinted at "adding more positions") Since Trump was elected president, the cryptocurrency market has been rising day by day, and Bitcoin once exceeded 90,000 For the U.S. dollar, the market is looking forward to a more friendly crypto regulatory environment after Trump takes office, as well as the vision of including Bitcoin as a U.S. strategic reserve asset. Saylor: The United States will establish a Bitcoin strategic reserve. In response, Michael Saylor, a firm believer in Bitcoin, said at a cryptocurrency event in Miami on Thursday that the idea of ​​the United States purchasing strategic reserve assets is not new, and the government has taken many actions in the past. Such a move. He recounts a series of major land purchases in the United States in the 19th century, such as those of Manhattan, Louisiana, and California and Alaska, which brought trillions of dollars to the United States. Saylor also noted that strategic purchases like gold, oil, grains and helium have occurred several times in the country's history. He said: This has been done before, it's a very simple idea: determine where the value is going to be, then buy low and hold. You're a nation, that's what nations do. Saylor further emphasized: Bitcoin is America’s manifest destiny. I think the Trump administration understands this, and I think Senator Lummis understands this...and that's why it's going to happen. To sum up, Saylor believes that the United States should establish a strategic reserve of Bitcoin. He said the most effective way to protect the dollar is to pay off the national debt and build wealth. Second, the next best way to protect the dollar is to make sure you hold it if any capital asset comes on the market that might replace Treasury bills. One such asset, he noted, is Bitcoin. Note: In the United States in the 19th century, "Manifest Destiny" was an idea that the United States had a "natural mission" to expand its territory. The concept, first proposed in the 1840s, asserts that the United States has a heavenly mandate to expand its territory and influence into the western portion of the North American continent. This idea was used to rationalize the territorial expansion of the United States into the western region (including Mexican territory) and became an important ideological basis for the westward movement. Optimistic about the passage of the bill to purchase 1 million BTC. In addition, Saylor also believes that the proposal proposed by Senator Cynthia Lummis for the U.S. Treasury Department to purchase 1 million bitcoins within five years will be passed because the Republican Party will have a majority in the House and Senate next year. He said that if this bill comes true, it will be "the greatest deal of the 21st century" and predicts that the United States will receive up to $16 trillion in economic benefits from this action. Saylor also described a “Trump Max” scenario in which the country would purchase 4 million Bitcoins. He believes this could create an economic return of up to $81 trillion and says a Trump Max strategy is a rational choice. Selling Gold to Buy Bitcoin Where will the money come from to buy 1 million Bitcoins? According to Bloomberg, Lummis said he has a plan to buy Bitcoin without increasing the government deficit, which is to sell some of the Federal Reserve’s gold. She said: We already have financial assets in the form of gold certificates that can be converted into Bitcoin. So the impact on the U.S. balance sheet is fairly neutral. Under Lummis’ bill, Bitcoin would be held for at least 20 years, assuming its appreciation in value would help reduce the U.S. national debt. The purchases would cost about $90 billion at current market prices, but that amount could increase if the bill passes and investors beat the government to buy. It remains to be seen whether the U.S.’s strategic Bitcoin reserve will ultimately pass. Extended reading: Congressman Lummis’s Bitcoin reserve bill has been released (requiring the United States to buy 1 million BTC in 5 years). Where will the funds come from? Paradigm Lianchuang: The race for Bitcoin reserves has begun. Matt Huang, co-founder of crypto venture capital institution Paradigm, commented that the balance of the game theory adopted by BTC has changed: Sovereign countries can no longer ignore Bitcoin.From a game theory perspective, Bitcoin is like gunpowder, not an iPhone. Just like film director Christopher Nolan could have chosen not to use an iPhone, but once gunpowder was invented, every country had to adopt it to stay competitive. The same is true for key technologies such as artificial intelligence and drones. Matt Huang emphasized that the window for the United States to adopt Bitcoin has now opened, and other sovereign countries will not wait any longer. Countries that build Bitcoin reserves early will benefit from lower entry prices. He concluded that the race to build Bitcoin reserves has begun. Bitcoin for the Sovereign pic.twitter.com/HD1UpcD6J7 — Matt Huang (@matthuang) November 14, 2024 Related reports Michael Saylor teaches you to invest in Bitcoin wisely: 4 key points + 3 taboos Michael Saylor: Bitcoin looks to be worth $13 million in 2045 , rising by an average of 30% every year. Standard Chartered: There is a "little chance" that Trump will include Bitcoin in the US strategic reserve, but he will overturn the SAB121 encryption accounting law after taking office. Michael Saylor: Bitcoin is the destiny of the United States! Optimistic about Congress passing 5 years to buy 1 million This article "The BTC Bill" was first published in BlockTempo (the most influential blockchain news media).

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