Sell ​​gold, buy Bitcoin – Saylor’s courageous advice to the USA

An executive at an American business intelligence company called on the US government to buy more Bitcoin and build a national reserve to strengthen the country’s economic dominance.

Michael Saylor, CEO of MicroStrategy, made a controversial suggestion that the US should sell its gold reserves to build up the country’s reserves.

Exchange gold for Bitcoin

Saylor once again put forward an eccentric proposal that would surely attract a lot of criticism, calling on the US government to exchange its gold reserves for Bitcoin.

The MicroStrategy manager, known as a staunch supporter of Bitcoin, called on the US to rethink its economic strategy and switch to the first-born cryptocurrency.

In an interview with Yahoo Finance, Saylor made the bold recommendation that the country’s leadership should divest all of its gold reserves so that the government can buy more Bitcoin.

Image: Firstpost

“Drop your gold, sell all US gold and buy Bitcoin, because for the price of gold you can buy 5 million Bitcoin,” he noted.

Stop buying gold

Saylor stopped the U.S. government from purchasing more gold for its national reserve.

The Bitcoin proponent has previously pointed out that gold is an ineffective store of value, saying that gold is “outdated” and has many vulnerabilities.

The United States should buy #Bitcoin and sell gold.pic.twitter.com/HD69iy1EAO

— Michael Saylor⚡️ (@saylor) December 7, 2024

For example, he explained that transporting a significant amount of gold would pose logistical challenges, which he said was the opposite of Bitcoin, which is very portable and secure.

Saylor said that trading gold for Bitcoin would increase the country’s wealth to $100 trillion, adding that it is also a strategy to improve the country’s economic dominance.

“They demonetize the entire gold asset class and our enemies keep gold in their banks and so their assets would go to zero while our assets go to trillions of dollars,” he explained.

Data showed that the US is among the countries with the largest gold reserves, accounting for an estimated 72% of the country’s financial reserves.

According to TradingEconomics, the U.S. government owns 8,133 tons of gold and dominates international commodity trading.

Bitcoin could replace gold

Analysts have previously predicted that gold could be replaced by Bitcoin as the primary store of value by the end of the decade.

Bernstein Research explained that Bitcoin is a superior alternative to gold because of its technological edge and growing adoption.

Previously, Saylor suggested that Bitcoin would surpass gold’s market cap, saying that the cryptocurrency’s market cap would reach $280 trillion, compared to gold’s market cap of $45 trillion.

US President-elect Donald Trump is interested in establishing a Bitcoin Strategic Reserve to make cryptocurrencies the dominant national asset and make the US the most successful country in cryptocurrencies.

Featured image from Pexels, chart from TradingView