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Michael Saylor, co-founder of MicroStrategy, describes buying a “strategic reserve” of Bitcoin as a possible “Louisiana Purchase moment” for the United States. Speaking on CNBC on August 6, Saylor highlighted both the strategic and historical significance of acquiring Bitcoin, likening it to Thomas Jefferson’s purchase of the Louisiana Territory in 1803 for $15 million, an acquisition that nearly doubled the size of the nation.
Endorsing the BITCOIN Act
“Bitcoin is scarce, desirable digital property,” Saylor stated. He supported Wyoming Senator Cynthia Lummis’ proposed BITCOIN Act, which would mandate the U.S. Treasury to acquire 1 million BTC, amounting to nearly 5% of Bitcoin’s total supply. He emphasized that trading a fraction of currency for an asset that billions of people will covet in the future is a brilliant move.
Saylor’s Bold Predictions
Saylor is well-known for his optimism about Bitcoin. He previously forecasted that each Bitcoin could reach about $13 million by 2045 during a bullish keynote address at the Bitcoin 2024 conference on July 26. In his speech, Saylor declared Bitcoin 2024 to be “very catalytic” and noted it marked an inflection point for Bitcoin, as key political figures, including U.S. presidential candidates, governors, and lawmakers, showed support for the digital asset.
“There’s now an avenue to discuss nation-states holding Bitcoin on their balance sheets. If nations are planning to buy it, then it’s reasonable for institutions, corporations, and individuals to consider doing the same,” Saylor remarked during the interview.
Following significant volatility in the cryptocurrency market—where a $510 billion drop in market capitalization was observed, and Bitcoin’s price fell approximately 18%—Saylor reiterated his call for investors to become “triple maxi” BTC enthusiasts. This term reflects his urging for individuals to invest heavily in Bitcoin with the long-term goal of achieving a nine-figure net worth.
The “Triple Maxi” Strategy
In a more detailed analysis, Saylor explained that individuals adopting a “triple maxi” strategy could potentially amass a net worth of $214 million by 2045. He advised, “You finance the house for Bitcoin, you buy Bitcoin, flip all your assets to Bitcoin, and then move to a low-tax jurisdiction to avoid some taxes and invest an extra $50,000 into Bitcoin.” His advice targets corporations and even nation-states, suggesting that such entities should adopt similar investment strategies.
Saylor articulated his belief that all physical assets—ranging from stocks and bonds to luxury cars and real estate—are impacted by the laws of thermodynamics, particularly entropy. He remarked on how entropy causes the value of physical assets to erode over time. “Entropy is diluting the value of physical assets. It’s sucking the capital, the energy out of them,” he said.
Even in instances where assets might sustain value over long durations, like the United Kingdom’s Crown Estate, which has been held by the Royal Family since 1066, Saylor asserts that the longevity of these assets is limited. “Physical assets might last 1,000 years, but probably the best you can expect is 50 to 75 years,” he explained, underscoring the transient nature of physical wealth.
MicroStrategy’s Bitcoin Holdings
In contrast, Saylor hails Bitcoin as an exceptional asset, characterizing it as “immortal, immutable, and immaterial.” He believes Bitcoin offers a unique solution to the economic challenges faced by society, declaring that it exists outside of the physical realm, with “an infinite lifespan.”
MicroStrategy stands as one of the largest public holders of Bitcoin globally, holding a total of 226,331 BTC by June 20. This acquisition cost the company approximately $8.33 billion, averaging $36,798 per Bitcoin. Saylor’s visionary perspective on cryptocurrencies aims to reshape the conventional understanding of wealth preservation, promoting Bitcoin as the cornerstone for a secure financial future amid economic entropy. Stay tuned for more updates on this evolving story on the Turkish NY Radio.
