As an analyst with over two decades of experience in financial markets, I find Michael Saylor’s assertion about the U.S. government ditching gold for Bitcoin intriguing, to say the least. With my extensive background in investment strategies and asset allocation, it’s clear that Saylor is making a bold prediction based on his unique perspective.
Michael Saylor, the head of business intelligence company MicroStrategy, has advocated for the U.S. administration to consider Bitcoin instead of gold as a preferred asset.
“Dump your gold. Sell all the US gold and buy Bitcoin. You will demonetize the entire gold asset class. And our enemies hold gold in their banks, so their assets would go to zero. Our assets would go to $100 trillion,” Saylor recently told Yahoo Finance.
Saylor previously described gold as an “antiquated” store of value that peaked in the 19th century.
The system is malfunctioning, as evident from its behavior. The cause of this failure lies in the fact that it can be manipulated, seized, misrepresented, and deceived. For instance, attempting to transfer $100 million or even $10 million of gold through an airport for a jurisdiction change is a significant challenge with such a system,” he explained to Nomad Capitalist back in April 2021.
According to a report from U.Today, it’s been suggested that by the end of this current decade, Bernstein might surpass gold in its role as a primary store of value.
Investor Mike Novogratz, who is himself involved in gold investments, anticipates that Bitcoin might one day exceed gold in terms of market capitalization.
Acquiring a million Bitcoins, as proposed by Wyoming Senator Cynthia Lummis in her bill, could greatly speed up the adoption of Bitcoin.
Currently, those betting on Polymarket predict a notable probability of about 30% for the creation of a Bitcoin reserve as early as 2025.
Mike Novogratz anticipates that the value of Bitcoin might soar as high as $500,000 under certain circumstances.
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2024-12-08 12:42