MicroStrategy Chairman Michael Saylor has made a provocative call for the US government to liquidate its gold reserves and invest heavily in Bitcoin. In a recent statement, Saylor argued that Bitcoin is emerging as the world’s dominant reserve capital network, surpassing traditional assets like real estate and stocks.
Saylor’s proposal involves the US government acquiring 20-25% of the Bitcoin network, a move he believes would catalyze the development of this global reserve capital network. He envisions this action prompting China, Russia, and other nations to divest from their existing assets and embrace Bitcoin, leading to a significant influx of capital into the United States.
Taking his argument a step further, Saylor suggested the US should sell all its gold reserves to fund the Bitcoin purchase. He estimates that the proceeds from the gold sale could be used to acquire 5 million Bitcoins. This drastic measure, according to Saylor, would effectively demonetize gold, crippling adversaries who hold significant gold reserves. He predicts this strategy would boost US assets to $100 trillion while simultaneously granting the nation control over both the world’s reserve capital network and the reserve currency network.
Saylor’s rationale rests on his conviction that Bitcoin is superior to all other long-term investments. He contends that no company or real estate property offers the same potential as Bitcoin.
