President-elect Trump has floated the idea of either purchasing Greenland from Denmark or allowing the territory to join the United States of its own accord. In new research, Data Analyst Jacob Jensen and Director of Competition Policy Fred Ashton estimate the potential cost of the acquisition.

Jensen and Ashton conclude:

President-elect Trump’s idea to acquire Greenland has precedent, as the United States has a history of land purchases and has offered to purchase Greenland before. But what would be the asking price? The national security rationale for Greenland stems from both its military value and proximity to increasingly important Arctic shipping lanes and its large critical mineral deposits. We estimate a ballpark price in two ways: using the market price of its mineral reserves suggests a price near $200 billion, while using the price of its North Atlantic location suggests a price just under $2.8 trillion.

Read the analysis