MicroStrategy’s Michael Saylor Calls Bitcoin "Manifest Destiny"

MicroStrategy co-founder and Executive Chairman Michael Saylor has described bitcoin as "Manifest Destiny" in the United States, particularly in light of the Republican U.S. election sweep and potential pro-crypto regulations. Saylor reflected on Trump's campaign proposals for crypto policies, including a national bitcoin stockpile and a promise to end strict crypto regulations.

Saylor commented during a CNBC interview, stating that the Republican victory is a major boost for Bitcoin and the crypto industry, alongside positive noises from Wall Street, particularly BlackRock, endorsing Bitcoin's value.

Trump's plans include firing the current SEC Chair, Gary Gensler, perceived as hostile to crypto. Saylor anticipates more supportive SEC leadership under the new political regime, resulting in beneficial digital asset policies.

Bitcoin Strategic Reserves

In discussing a U.S. bitcoin stockpile, Saylor referenced Senator Cynthia Lummis's draft bill aimed at creating such a reserve, positing it as economically beneficial. He lauded bitcoin as part of the next frontier, similar to historic U.S. land acquisitions which built the nation’s strength.

MicroStrategy is expanding its bitcoin holdings, recently purchasing another 27,200 BTC for approximately $2.03 billion, elevating its total to 279,420 BTC. The company plans to raise $42 billion for future bitcoin acquisitions, bolstering its position as a significant bitcoin holder.

Saylor's optimism extends to the notion that the race for nations to build BTC reserves is accelerating, citing the irreversibility of Bitcoin's strategic importance globally.

Plans for a $100K Bitcoin Party

On the topic of Bitcoin's price trajectory, Saylor is confident it will rise, unaffected by recent market fluctuations. As Bitcoin navigates the market, he is now contemplating hosting a long-discussed $100K bitcoin party for New Year's Eve, with expectations of prices surpassing $100,000 by then. Currently, Bitcoin trades at approximately $90,232, showing resilience amid market variations.