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Michael Saylor, a Bitcoin evangelist and cofounder of BTC-focused Strategy, has taken to social media to share with the crypto community a solid reason why the U.S. government should begin to accumulate Bitcoin soon for the Strategic Bitcoin Reserve (SBR).
In his tweet, Saylor made a historic reference to the land bought by U.S. colonists from Native Americans (well, in some cases), stressing the fact that by now the value of these acquisitions has skyrocketed.
Saylor insists U.S. should start buying Bitcoin
Saylor’s tweet presents “historic precedents” for the Strategic Bitcoin Reserve, referring to early U.S. history, when European colonists purchased some land from Native Americans. The states Saylor mentioned were Louisiana, California, Alaska and Manhattan in New York.
The Bitcoiner named the prices at which they were bought and the payoff that came from them, which was many times bigger than the initial price. Thus, Strategy’s executive chairman urged the U.S. presidential administration to start buying BTC for the Strategic Bitcoin Reserve, which was approved last week by an executive order signed by the U.S. president.
“We purchased 78% of the United States for $40 million. America should buy Bitcoin,” Saylor tweeted.
In a tweet published last week, Saylor also shared his take on why the U.S. should start accumulating digital gold. Back then, he stated that “the Bitcoin Strategic Reserve positions the U.S. as the leader in the race to dominate cyberspace.” Therefore, today, he just doubled down on his earlier argument.
Gamza KhanzadaevStrategy aims to raise $21 billion to buy Bitcoin
As reported by U.Today, earlier this week, Strategy announced a plan to issue and sell shares of its 8% series A perpetual strike preferred stock at $0.001 per share. The goal is to raise a whopping $21 billion to expand the company’s Bitcoin holdings.
Since the company changed its name from MicroStrategy to Strategy recently, the ticker of the stock is now STRK. “Shares of the perpetual strike preferred stock are convertible by the holders into shares of Strategy’s class A common stock,” the press release says.
Currently, Saylor’s company holds slightly more than 499,000 Bitcoin worth slightly under $42 billion, planning to push its holdings well beyond half a million BTC.
Bitcoin is currently changing hands at $81,608.
Dan Burgin
Vladislav Sopov