Michael Saylor, Co-founder and executive chairman of MicroStrategy, has asked the United States government to change its economic strategy to sell its massive gold reserves and invest in Bitcoin instead.
According to the latest data, gold represents close to 72 percent of the country’s financial reserves. TradingEconomics data shows 8,133 tons of gold in the U.S., giving it dominance in commodity trading. Saylor speaking on Yahoo Finance Market Domination interview that was posted on X:
Dump your gold, sell all the U.S. gold, and buy Bitcoin because you can buy 5 million Bitcoin for the cost of the gold. You’ll demonitize the entire gold asset class and our enemies hold gold in their banks, and so their asset would go to zero, while our asset go to trillion dollars.
The $280 Trillion Prediction: Saylor’s Bold Bitcoin Forecast
According to Saylor, Bitcoin represents the future of national reserves and provides a better hedge against inflation than his proposal. He dreams of a Bitcoin market cap of $280 trillion, larger than that of gold, estimated at $45 trillion. At Bitcoin’s current market cap of $2 trillion, to say that the global financial paradigms are about to experience a seismic shift would be a brave prediction.
To emphasize even more so, Saylor has steered MicroStrategy into becoming a leading corporate investor in Bitcoin. Now, the company has 402,100 Bitcoins, worth over $40 billion. The purchase of about 15,400 BTC for $1.5 billion, using Convertible Senior Notes offerings, was its latest acquisition. Other firms, including Semler Scientific and Metaplanet, have also followed on with similar moves.
Saylor’s work goes further than corporate investment. Asked by CNBC’s Robert Frank what he would say to individual investors who want to buy a little, he has called on them to invest in Bitcoin to become a foundational asset in the global economy.
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In accordance with broader efforts to bring Bitcoin into the national financial frameworks, his stance is consistent. President-elect Donald Trump first spoke about a Bitcoin Strategic Reserve earlier this year when he addressed the Bitcoin community in a speech. Republican Senator Cynthia Lummis’s proposal to Congress of the BITCOIN Act reinforced this vision.
Poland and Suriname: Presidential Candidates Embrace Bitcoin
Skeptics of Bitcoin as a strategic asset haven’t confined their appeal to the U.S. They are not the only ones; other nations and institutions are taking notice. In Poland and Suriname, presidential candidates have applied Bitcoin to their economic plans, seeing its utility as a fighting force against inflation.
At the same time, tech giants such as Microsoft and Amazon have seen shareholder proposals to disclose Bitcoin on their balance sheets, which are currently purged of cash and bonds. Saylor’s advocacy of Bitcoin is part of a growing consensus that Bitcoin has the potential to be and is already making real change.
The debate over including Bitcoin in national reserves is gathering steam, and while the U.S. government hasn’t followed his advice yet, it isn’t as if he’s a whack programmer. If such a shift occurs, it could be a giant step for a reconfiguration of global finance, putting Bitcoin at the centre of a new financial age.
However, Saylor is firm in his Bitcoin buying, buying the cryptocurrency every week and encouraging others to do the same. Both fighters and opponents are galvanized by his vision of a future in which Bitcoin will become the ultimate store of value, and all eyes are on what will be one of the most important financial debates of the 21st century.
Conclusion
Michael Saylor’s bold vision derails the conventional wisdom, insisting that Bitcoin is better than inflation as a hedge. By advocating that the US sells its gold and adopts Bitcoin, he kicks off a radical conversation about what makes up modern financial reserves. Such a shift would actually completely rewrite the global economic equation for several generations to follow.
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