MicroStrategy chairman Michael Saylor has once again stressed the importance of the US having a strategic Bitcoin Reserve. In his latest CNBC interview, Saylor said that accumulating one million Bitcoins over the next five years can help the government reduce the US national debt by a staggering $16 trillion i.e. over 45% of the existing debt.

Bitcoin Reserve to Reducing US National Debt

In his recent CNBC interview, Michael Saylor discussed the Red wave in the US elections and how Donald Trump’s victory can impact the crypto market. Besides, he also discussed MicroStrategy’s plans to raise $42 billion to buy additional Bitcoins.

Most importantly, Saylor believes that the US is most likely to have its own strategic Bitcoin reserve with a concrete plan in place very soon. Earlier this year during the Bitcoin 2024 conference in Nashville, President Donald Trump stated that he would make a plan for the US government to hold 200,000 Bitcoins as reserves.

Shortly afterward, Sen. Cynthia Lummis (R-Wyo.) introduced a bill proposing an increase in the country’s digital asset reserves. Moreover, she also shared a plan of accumulating one million tokens over a five-year period. In her recent comments on Thursday, Senator Lummis also proposed selling the Fed’s gold reserves partially to buy one million BTC.

If Sen. Lummis’ bill passes in its current form, the U.S. could realize a $16 trillion benefit from purchasing one million Bitcoin, according to Saylor. In his interview, the MicroStrategy executive chairman said:

“The best way to protect the dollar is make sure you retire the debt and become rich. The next best way to protect the dollar is to make sure that if anybody ever considers a different capital asset other than the treasury bill, you own it”. That asset is Bitcoin, he added.

Bitcoin is Manifest Destiny for the United States. My discussion of The Red Wave, MicroStrategy’s $42 Billion Plan, the compelling logic of the Strategic #Bitcoin Reserve, and getting ready for the 100K party, with @MorganLBrennan. pic.twitter.com/fvkwRnCzlU

— Michael Saylor (@saylor) November 14, 2024

Michael Saylor Predicts Trump Max Case

Saylor highlighted that the U.S. acquiring strategic assets is not a new concept, citing some key asset purchases in the past. He also pointed out other strategic purchases throughout U.S. history, including gold, oil, grain, and helium, all of which have delivered multi-trillion-dollar in returns. In the latest such development, the Pennsylvania House passed a bill to build a state Bitcoin reserve. He added:

“You’re a nation, this is what nations do. … Bitcoin is manifest destiny for the United States. I think the Trump administration understands it, I think Senator Lummis understands it … that’s why it will happen.”

Saylor also outlined a “Trump Max” scenario, where the U.S. would purchase four million Bitcoins, a move he suggested could yield an $81 trillion return. According to Saylor, this “Trump Max” strategy represents the most “rational approach”.

The post How Bitcoin Reserve Will Cut US National Debt by $16 Trillion? Michael Saylor Explains appeared first on CoinGape.

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Filed under: News - @ November 15, 2024 5:20 am