Michael Saylor: Bitcoin strategic reserve 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 strongly supports the Bitcoin Strategic Reserve Act proposed by Wyoming Senator Cynthia Lummis, which would require the U.S. Odaily to gradually accumulate 1 million Bitcoins, nearly 5% of its total supply. "Thomas Jefferson purchased the Louisiana Territory for $15 million in 1803, almost doubling the size of the United States," Saylor said. "Bitcoin is a scarce and worthwhile digital property. It's a good idea to exchange a small amount of currency for an asset that billions of people will want to own 100 years later." 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)