Michael Saylor urges the US to buy Bitcoin, similar to its historic land purchases

Saylor claimed that the US had purchased 78% of its land for $40 million during the previous centuries. The acquired land spread across Manhattan, Louisiana, California, and Alaska is worth $23 trillion today.

The US should buy Bitcoin, similar to how it had purchased land in the country historically, according to Strategy (Nasdaq: MSTR) founder and chairman Michael Saylor.

Saylor claimed that the US had purchased 78% of its land for $40 million during the previous centuries. Commencing in 1789 with President Washington buying land from France, the US acquired Manhattan, Louisiana, California, and Alaska, among other territories.

While the initial investment was minimal, the acquired land today is worth an estimated $23 trillion, showcasing the enduring value of long-term vision and strategic acquisitions, he added.

Comparing Bitcoin to these historic land purchases, Saylor urged the US government to purchase the “digital gold” as President Trump’s Executive Order on the Strategic Bitcoin Reserve is set in motion.

suggesting that the time for the US to accumulate Bitcoin is now.

Saylor has been bullish on Bitcoin for years now, and his company Strategy is the largest corporate holder of the apex coin.

So far, Strategy has purchased 499,096 Bitcoin for $33 billion at an average price of $66,423 a token.

suggesting that the company may have to sell a part of its STRK to fund further purchase of Bitcoin.

The MSTR stock fell 10% yesterday following the announcement. It managed to recover by 5% today, trading at $248.4 at press time.

Even Bitcoin has slipped from nearly $92,500 to slightly above $81,000 within a span of five days.

suggesting that such volatility has never deterred Saylor from believing in Bitcoin as Strategy leads in corporate adoption of the apex coin. In fact, if an individual had invested $100 in Bitcoin on August 11, 2020—the date of MicroStrategy's initial Bitcoin purchase at around $11,500 per coin — that investment would now be approximately $707, marking a 607% return.