Michael Saylor Shares Crucial Reason Why ‘America Should Buy Bitcoin’

Michael Saylor, a Bitcoin evangelist and a co-founder of BTC-focused Strategy, has taken to social media to share with the crypto community a solid reason why the US government should begin to accumulate Bitcoin soon for the Strategic Bitcoin Reserve (SBR).

In his tweet, Saylor made a historic reference to the lands bought by US colonists from native Americans in the past, stressing the fact that by now the value of these acquisitions has skyrocketed.

Saylor insists US should start buying Bitcoin

Saylor’s tweet presents “historic precedents” for the Strategic Bitcoin Reserve, referring to the early US history, when European colonists purchased lands from native Americans. The states Saylor mentioned are Louisiana, California, Alaska, and Manhattan in the New York state.

The Bitcoiner named the prices at which they were bought and the payoff that came from them, which was times bigger than the initial price. Thus, the Strategy’s executive chairman urged the US president administration to start buying BTC for the Strategic Bitcoin Reserve which was approved last week by an executive order signed by the US 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 US 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.

Strategy aims raising $21 billion to buy Bitcoin

As reported by U.Today, earlier this week, Strategy announced a plan to issue and sell shares of its 8.00% 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 has changed its name from MicroStrategy to Strategy recently, the ticker of the stock now is 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 Bitcoins worth slightly under $42 billion, planning to push its holdings well beyond half a million BTC.

Bitcoin is currently changing hands at $81,608.