How Much Could Greenland Cost? When Once U.S. Paid 7.2 Million Dollar For Alaska In 1867

U.S. President-elect Donald Trump is once again contemplating the acquisition of Greenland, the autonomous territory governed by Denmark. The idea, which first emerged during Trump’s first term in 2019, was dismissed at the time but has resurfaced as he prepares to assume office for his second term.

How Much Could Greenland Cost?

Drawing parallels with historical land acquisitions, analysts speculate on the potential cost of purchasing Greenland. In 1867, the U.S. acquired Alaska from Russia for $7.2 million, equivalent to approximately $153.5 million today. Greenland, significantly larger than Alaska at 836,000 square miles, could carry a price tag of $230.25 million based on inflation-adjusted figures and a 50% size premium.

Historical proposals provide further context. In 1946, the U.S. offered $100 million in gold (equivalent to $1.6 billion today) for Greenland, while the Louisiana Purchase of 1803 cost $15 million (around $418.8 million today). Greenland’s GDP in 2021 was $3.24 billion, adding economic considerations to any negotiations.

Despite the conjecture, any attempt to purchase Greenland would require Congressional approval, as mandated by the U.S. Constitution.

The Strategic Appeal of Greenland

Trump has emphasized Greenland’s strategic importance to U.S. national security, citing its location in the Arctic, natural resources, and the presence of a major U.S. military base in Thule. “We need Greenland for national security purposes,” Trump stated on Tuesday, hinting at the geopolitical motivations behind the renewed interest.

Denmark’s Firm Stance

The notion of selling Greenland was unequivocally rejected in 2019 by Greenlandic and Danish leaders. Danish Prime Minister Mette Frederiksen dismissed Trump’s proposal, stating, “Greenland is not for sale. Greenland is not Danish. Greenland is Greenlandic.” In response to the refusal, Trump canceled a planned state visit to Denmark.

Frederiksen has reiterated Denmark’s position following Trump’s recent comments, expressing confidence in the strong U.S.-Denmark alliance. Speaking to Danish broadcaster TV2, she emphasized that the United States remains Denmark’s “most important and closest ally” and ruled out the use of coercive measures to secure control over Greenland.

Military and Diplomatic Implications

Trump’s comments on potentially leveraging military or economic power to influence Denmark have raised concerns among international observers. Greenland, a strategically vital Arctic territory, could become a focal point for broader geopolitical tensions as global powers vie for influence in the region.

While the feasibility and cost of purchasing Greenland remain speculative, the renewed discussions highlight the territory’s growing significance in U.S. strategic planning. Whether Denmark and Greenland will entertain further negotiations, however, remains highly unlikely given their firm rejections in the past.

(Inputs From Agency)