$700 billion for Greenland? Trump's Arctic mega-deal or icy pipe dream?

US President Donald Trump has recently reignited a bold US push to acquire Greenland from Denmark.

In media statements and socmed posts, Trump has asserted "no going back on Greenland"

The White House spokesperson, Karoline Leavitt, also stated that "all options are on the table", including military action, in order to acquire the Arctic territory. Trump has also threatened tariffs on European countries that opposed the US annexation of Greenland.

Trump's posture and words rankled America's European allies on the Nato mutual defence pact. It has also sparked viral reactions across social media.

At WEF in Davos, Switzerland, Trump backed off, sort of.

He appeared to dial back on tariffs on European Nato allies (10% starting next month, rising to 25% by June), seen as leverage until a deal materialises.

"What I'm asking for is a piece of ice, cold and poorly located, that can play a vital role in world peace and world protection," he told some 3,000 people in the Davos crowd on Wednesday (Jan. 21, 2026).

Never mind if the US already has three main military bases in Greenland —Thule, Narsarsuaq and Sondestrom. The 1951 Greenland Defense Agreement already allows the US to keep its and to establish new bases or "defence areas" if deemed necessary by Nato. 

Trump vowed he won't use force, but implied that he could.

Social media exploded with memes.

Some compared it to real estate flips.

National security hawks cheered Arctic/Rare Earths control while critics decried colonialism — trending under #BuyGreenland and #TrumpGreenlandDeal with over 2 million posts in 24 hours.

Did Trump make a $700 billion offer to Denmark for Greenland?

No. There's been no formal $700 billion US offer confirmed in official statements.

The figure of $700 billion, however, has appeared in viral X posts and videos amplifying Trump's rhetoric.

Where did the amount of $700 billion come from?

It's possible that it was extrapolated from Greenland's estimated mineral wealth (rare earths, uranium, other critical minerals) and strategic value amid China/Russia Arctic moves.

Trump framed it as essential for US defense, echoing his 2019 bid, with a new "Make Greenland Great Again Act" (H.R. 361) authorising talks.

Is Greenland worth $700 billion?

Greenland's 836,000 square miles hold vast untapped resources: rare earths ($1-2 trillion potential), oil/gas (though contested), plus fisheries and tourism (~$3 billion GDP).

Geopolitically, it offers Arctic military bases (Thule Air Base exists) and shipping routes as ice melts. Denmark subsidizes it ~$500 million yearly; US could afford more.

Critics argue that $700 billion overpays — comparable to entire US annual military budgets — versus cultural/political resistance from 57,000 Inuit residents, who prioritise autonomy.

US land purchases: The precedents

• Louisiana Purchase (1803): $15 million (4¢/acre) from France doubled U.S. size.​

• Alaska (1867): $7.2 million ("Seward's Folly") from Russia; now oil-rich.​

• Gadsden Purchase (1853): $10 million from Mexico for railroads.​

• Philippines Purchase (1898): $20 million US "purchase" of the Philippines from Spain (Treaty of Paris), which also formally ended the Spanish-American war.

• Virgin Islands (1917): $25 million from Denmark — ironically, a prior Arctic neighbour deal.​

These bargains succeeded, mostly via diplomacy.

Though the US move didn't go down very well with Filipinos then. It resulted in the Philippine-American war, which resulted in massacres and some tropical islands turned into a "howling wilderness".

Trump's Greenland deal

Trump's Greenland buy now faces modern hurdles:

• Danish PM rejection,

• Greenlandic self-determination votes (favouring independence)

• Pushback from Nato allies

• International law.

Still, for some, these precedents show transformative value: at $700 billion (~$835/acre), it could pay off long-term, if resources flow.

The current debate is this: Is this savvy security, a real-life version of the video game "Bully", a game of Monopoly, or straight up empire-building?