The U.S. purchase of Alaska in 1867, often termed "Seward's Folly," was significant for several reasons. This acquisition from Russia added substantial territory to the United States, doubling the size of the nation and providing access to rich natural resources, including fish, fur, and minerals. Many initially criticized the purchase as wasteful, but subsequent discoveries of gold, oil, and other resources validated the investment. Alaska's strategic position also enhanced U.S. influence in the Pacific and served as a launchpad for future economic and military endeavors, paving the way for its statehood in 1959.