Michael Saylor Says US Should Ditch Gold and Buy Bitcoin, Here’s Why

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Michael Saylor Says US Should Ditch Gold and Buy Bitcoin, Here's Why

MicroStrategy Founder and Chairman Michael Saylor has waded into the strategic Bitcoin reserve conversation. In a recent interview with Yahoo Finance!, Saylor shared crucial reasons why the US need to ditch gold and embrace the digital currency.

Michael Saylor: Bitcoin Can Help US Control The Capital Network

In the 1-minute clip, the Bitcoin advocate said BTC can help the US Government control the world’s reserve status and capital network. He hinted that his own recommendation is that the US government should buy at least 20 to 25% of the Bitcoin in circulation now.

Michael Saylor said the US can sell all of the gold in its reserve to buy Bitcoin. The BTC bull argues that if it is able to achieve this, it will make the US the World Reserve Capital Network.

He believes the value of Gold will tank if the government makes this move, creating an economic dilemma for rival economies. If this scenario plays out, Michael Saylor believes the Russians, Chinese and foreigners will sell their assets to buy Bitcoin. This way, he argues that the capital will flow back to the US following the gold demoniization.

As he postulated, the value of the Bitcoin reserve then could jump to around $100 trillion. Meanwhile, the conversations around strategic Bitcoin reserve is advancing under the Donald Trump administration.

As reported earlier by Coingape, the President-elect is setting up a crypto advisory council to work out modalities for this reserve.

Walking the Strategic Bitcoin Reserve Talk

Michael Saylor has led MicroStrategy to become the most prolific corporate buyer of BTC in the open market.

The company recently acquired 15,400 BTC for $1.5 billion to push its total holdings above 400,000 coins. In its aggressive push for Bitcoin, the company has raised billions in Convertible Senior Notes offering to finance its accumulation spree.

Many firms have gained inspiration from the MicroStrategy Bitcoin playbook. From Semler Scientific to Metaplanet, the list continue to grow. It remains to be seen if the US Government will join the trend of Bitcoin buyers to top the stash it seized from the Silk Road marketplace.

The post Michael Saylor Says US Should Ditch Gold and Buy Bitcoin, Here’s Why appeared first on CoinGape.

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