Michael Saylor, executive chairman of Strategy (NASDAQ:MSTR), suggested on Thursday that the United States plans to purchase 1 million Bitcoin (CRYPTO: BTC) to establish a strategic reserve, aligning with a framework outlined in the bill proposed by senator Cynthia Lummis (R-Wyo.)

He was speaking in a Fox Business interview, ahead of a White House Crypto Summit scheduled for Friday, where Saylor will participate.

What Happened: Saylor emphasized a deliberate acquisition process over four years, leveraging the government’s existing 200,000 Bitcoin holdings, valued at approximately $17 billion at current prices, to build the reserve.

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Saylor, whose company holds over 500,000 Bitcoin—about 2.4% of the global supply—provided insight into the proposed strategy.

“The Lummis bill has laid out the idea of acquiring Bitcoin strategically over four years, just consistently day by day, in order to reach a million Bitcoin target,” he said, noting the involvement of a 12-member presidential working committee, including industry leaders, Senate, and House representatives.

He clarified that the financing details remain undecided but stressed transparency as key to managing market impact.

“The most responsible thing would be to go slow and steady and deliberate with clear telegraphing and transparency,” Saylor added, addressing concerns about price volatility as supply decreases.

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The executive framed Bitcoin as “digital property” and a savings mechanism for Americans, drawing parallels to historical land acquisitions like the Louisiana Purchase.

“If you think of Bitcoin as property in cyberspace… the logic behind a Bitcoin strategic reserve is not so much you’re storing up Bitcoin, it’s really that you’re taking control of planting the flag in cyberspace,” he explained.

Saylor advocated for a focus on Bitcoin alone in the reserve, citing its status as the “universally agreed upon foundational asset” due to its issuer-less nature, though he acknowledged the need for a broader digital asset framework to support currencies, securities, and tokens.