Michael Saylor urges the government of the United States to sell their gold, as it accounts for more than half of the country’s financial reserves.
The U.S. government is publicly known as one of the largest nations that owns gold as its reserve, which accounts for 72% of the total. Based on TradingEconomics data on Dec. 09, the U.S. owned 8,133 tons of gold and dominated international commodity trading.
However, Michael Saylor urges the government not to buy more gold but to buy more Bitcoin (BTC) instead for future assets against inflation. As a national reserve, in his belief, Bitcoin will rise to trillions of dollars.
“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,”
Saylor says on Yahoo Finance’s Market Domination interview on X’s post
On another occasion, Saylor also 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.
Through these projections, Saylor will keep buying Bitcoin every week and urge more investors and institutions to gain exposure to Bitcoin. MicroStrategy now owned 402,100 Bitcoins, or equal to $40 billion.
Michael Saylor and Trump’s vision for Bitcoin reserve
Bitcoin Strategic Reserve was mainly introduced by President-elect Donald Trump when he got a chance to speak in front of the Bitcoin community earlier this July. This vision was followed by the BITCOIN Act, which was proposed by the Republican Senator Cynthia Lummis to Congress.
Both of the figure’s vision, Trump and Saylor, was driven by Bitcoin’s utility and use cases against inflations. This move also inspired other institutions and nations to acquire or keep their Bitcoin.
Polish and Suriname’s presidential candidates were two examples of how Bitcoin could influence their vision for their respective nations. Microsoft and Amazon were also proposed by their shareholders to acquire Bitcoin on their balance sheets, as it is now only dominated by cash and bonds.
