Seward's Folly refers to the acquisition of which territory?

Seward's Folly refers to the acquisition of Alaska, which was purchased from Russia in 1867 for $7.2 million. At the time, many people viewed this transaction as a questionable decision, hence the term "folly" attributed to Secretary of State William H. Seward, who championed the acquisition. However, it later proved to be a significant and strategic asset for the United States due to its vast natural resources, including oil and minerals, as well as its strategic location for military and economic interests. This acquisition expanded U.S. territory significantly and helped establish the nation’s presence in the Pacific. Understanding this historical context highlights the importance of the decision beyond its initial perceptions.