Michael Saylor claims the US should replace gold with Bitcoin

Source Cryptopolitan

Michael Saylor proposes that the US replace gold with Bitcoin in its reserves, also arguing that it would strengthen the country’s global financial dominance. He predicts Bitcoin’s value could reach $100 trillion under this strategy. Saylor’s ideas have garnered support from figures like Cathie Wood and the growing interest in cryptocurrency reserves in the US.

Michael Saylor has reignited the debate on Bitcoin as a strategic reserve asset. In an interview, Saylor argued that the United States should replace gold with Bitcoin in its reserves, stating that this move would enhance the country’s overall control of the global capital network.

The MicroStrategy Chief believes Bitcoin can help the US strengthen its position and dominate global finance. He suggests the US government acquire 20-25% of all Bitcoin. Saylor predicts this move could lower gold’s value, forcing countries like Russia and China to sell their gold and assets to buy Bitcoin, ultimately driving capital back to the US.

Replacing gold with bitcoin

Michael Saylor predicts Bitcoin’s value could reach $100 trillion if the US adopts his strategy. This bold claim contrasts Bitcoin’s current market cap of under $2 trillion which is never going to happen. Despite skepticism, Saylor sees Bitcoin as a better store of value than gold. He even suggests the US sell its entire gold reserve to buy Bitcoin, establishing itself as the “World Reserve Capital Network.”

Saylor’s views have gained support from Cathie Wood, CEO of ARK Investment, who believes Bitcoin’s future is brighter than gold’s and could exceed its $17.6 trillion market cap. Federal Reserve Chair Jerome Powell has also referred to Bitcoin as “virtual gold.”

Under Saylor’s leadership, MicroStrategy has become the largest corporate holder of Bitcoin, owning over 402,000 BTC. This strategy has paid off, with the holdings now worth over $40 billion, showing significant unrealized profits.

Saylor’s proposal for a national Bitcoin reserve is bold and aligns with growing discussions about cryptocurrency reserves in the US. Likewise, the incoming Trump administration has suggested forming a crypto advisory council to explore Bitcoin as a strategic reserve asset.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold rebounds past $4,400 as rate-hike odds cool ahead of NFPGold is back above $4,400 after weak ADP data cut September rate-hike odds to ~58%. XAU/USD rebounded from Wednesday's $4,282 low; Friday's NFP is the next catalyst.
Author  Irene Q.
11 hours ago
Gold is back above $4,400 after weak ADP data cut September rate-hike odds to ~58%. XAU/USD rebounded from Wednesday's $4,282 low; Friday's NFP is the next catalyst.
placeholder
US August Nonfarm Payrolls Preview: Will the Labor Market Quell Fed Rate Hike Expectations? US Stocks, Dollar, and Gold Face Key TestThe U.S. Bureau of Labor Statistics will release the August nonfarm payrolls report at 8:30 a.m. ET on September 4. Following hawkish signals delivered by Fed Chair Warsh at Jackson Hole
Author  TradingKey
12 hours ago
The U.S. Bureau of Labor Statistics will release the August nonfarm payrolls report at 8:30 a.m. ET on September 4. Following hawkish signals delivered by Fed Chair Warsh at Jackson Hole
placeholder
Gold rebounds above $4,350 as US Dollar, Treasury yields slipGold price (XAU/USD) rebounds from a nearly one-month low to around $4,385 during the early Asian session on Thursday. The precious metal edges higher as the ‌US Dollar (USD) and Treasury yields retreat from recent highs.
Author  FXStreet
19 hours ago
Gold price (XAU/USD) rebounds from a nearly one-month low to around $4,385 during the early Asian session on Thursday. The precious metal edges higher as the ‌US Dollar (USD) and Treasury yields retreat from recent highs.
placeholder
Gold Price Forecast: Will Gold Keep Falling After Dropping Below $4,300 as US-Iran Conflict Drives Up Oil Prices?As of the Asian trading session on September 2, gold prices (XAUUSD) fell below $4,300 intraday to a low of $4,282.45, with the latest price hovering around $4,320, down nearly 9% cumulat
Author  TradingKey
Yesterday 09: 10
As of the Asian trading session on September 2, gold prices (XAUUSD) fell below $4,300 intraday to a low of $4,282.45, with the latest price hovering around $4,320, down nearly 9% cumulat
placeholder
Escalating US-Iran Conflict Drives Up Oil Prices, WTI Returns Above $90, Gold Falls Near $4,300 As of the Asian session on September 2, international oil prices surged, with WTI crude (USOIL) reclaiming $90, and Brent crude (UKOIL) rising above $95, reaching a high of $97.04; meanwh
Author  TradingKey
Yesterday 02: 21
As of the Asian session on September 2, international oil prices surged, with WTI crude (USOIL) reclaiming $90, and Brent crude (UKOIL) rising above $95, reaching a high of $97.04; meanwh
goTop
quote