Michael Saylor: Bitcoin strategic reserves will be another "Louisiana Purchase moment" for the United States

MicroStrategy founder Michael Saylor told CNBC that buying Bitcoin for a “strategic reserve” would be another “Louisiana Purchase moment” for the United States. Saylor is a strong supporter of the Bitcoin Strategic Reserve Act introduced by Wyoming Senator Cynthia Lummis, which would require the U.S. Treasury to gradually accumulate 1 million Bitcoins, nearly 5% of its total supply. “Thomas Jefferson purchased the Louisiana Territory for $15 million in 1803, nearly doubling the size of the United States,” Saylor said. “Bitcoin is a scarce and desirable digital property. It’s a good idea to trade a small amount of currency for an asset that billions of people will want to own 100 years from now.” Saylor called the Bitcoin 2024 conference “very catalytic and marks a turning point for Bitcoin,” which attracted U.S. presidential candidates, governors, senators and congressmen who expressed their support. Saylor said: "Now, we can discuss the possibility of countries holding Bitcoin. If countries will buy Bitcoin, then it is reasonable for institutions, companies and individuals to buy Bitcoin." (Cointelegraph)