Michael Saylor Urges US Government to Sell Gold and Invest in Bitcoin

The United States government is known for holding a significant amount of gold as its reserve, accounting for 72% of the total. However, Michael Saylor, a prominent figure in the cryptocurrency space, is urging the government to reconsider its investment strategy.

A Shift from Gold to Bitcoin

As of December 9, the US owned 8,133 tons of gold, dominating international commodity trading. However, Saylor believes that the government should not invest in more gold but instead, allocate its resources to Bitcoin as a national reserve against inflation. He argues that Bitcoin has the potential to rise to trillions of dollars in value.

“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.”

Projections for Bitcoin‘s Market Capitalization

Saylor expects Bitcoin‘s market capitalization to skyrocket to $280 trillion, surpassing the gold market cap, which accounts for $45 trillion. The recent Bitcoin market cap is $2 trillion. These projections have led Saylor to continue buying Bitcoin every week and encouraging more investors and institutions to gain exposure to the cryptocurrency.

Tips for Investing in Bitcoin

For those interested in investing in Bitcoin, here are some key takeaways:

* Bitcoin has the potential to rise in value, making it a promising investment opportunity.
* Diversifying your portfolio by investing in Bitcoin can help mitigate risks associated with traditional assets.
* Consider allocating a portion of your investment portfolio to Bitcoin to take advantage of its potential growth.

MicroStrategy’s Bitcoin Holdings

MicroStrategy, a company led by Saylor, currently owns 402,100 Bitcoins, equivalent to $40 billion. This significant investment in Bitcoin demonstrates Saylor’s confidence in the cryptocurrency’s potential for growth.

The Bitcoin Strategic Reserve Vision

The concept of a Bitcoin Strategic Reserve was introduced by President-elect Donald Trump and later proposed by Republican Senator Cynthia Lummis through the BITCOIN Act. This vision is driven by Bitcoin‘s utility and use cases against inflation, inspiring institutions and nations to acquire or keep their Bitcoin.

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