As a seasoned analyst with over two decades of experience in the financial industry, I have witnessed the evolution of various asset classes and the strategies employed by governments and institutions to maintain economic dominance. Michael Saylor’s proposition for the US government to invest in Bitcoin is indeed an intriguing concept, one that challenges the traditional norms of gold-backed reserves.
Michael Saylor, Founder and Chair of MicroStrategy, has entered the discussion about strategic bitcoin reserves. During an interview with Yahoo Finance!, he expressed significant reasons why the U.S. might be better off abandoning gold in favor of adopting digital currency.
Michael Saylor: Bitcoin Can Help US Control The Capital Network
In the one-minute video, the proponent of Bitcoin proposed a strategy for the U.S. Government to secure its dominant position in global reserves and financial networks by investing in Bitcoin. He subtly suggested that it would be beneficial for the U.S. government to acquire approximately 20 to 25% of all existing Bitcoins in circulation at present.
Michael Saylor said the US can sell all of the gold in its reserve to buy Bitcoin. The BTC bull argues that if it is able to achieve this, it will make the US the World Reserve Capital Network.
According to him, if the government decides to take this action, it could lead to a significant drop in the value of Gold, causing an economic predicament for competing economies globally. If this happens, Michael Saylor suggests that countries like Russia, China, and foreign investors might choose to sell their Gold assets and instead invest in Bitcoin. By doing so, he reasons that the capital would eventually return to the U.S., as gold loses its value and is essentially “demonetized.
The United States should buy #Bitcoin and sell Gold.
— Michael Saylor (@saylor) December 7, 2024
According to his prediction, the value of the Bitcoin reserve might soar up to approximately $100 trillion. Additionally, discussions about a strategic Bitcoin reserve are progressing under the Trump administration.
According to an earlier report by Coingape, the newly elected president is establishing a cryptocurrency advisory panel to figure out the details of a proposed digital currency reserve.
Walking the Strategic Bitcoin Reserve Talk
Michael Saylor, as the leader of MicroStrategy, has made it the most active corporate entity in purchasing Bitcoin on the open market.
As a researcher, I’ve just learned that our company has recently purchased an impressive 15,400 Bitcoins for a staggering $1.5 billion. This acquisition has boosted our Bitcoin holdings significantly, surpassing the 400,000 coin mark. In our relentless pursuit of Bitcoin, we’ve successfully raised billions through the offering of Convertible Senior Notes, which will help fund our ongoing accumulation strategy.
numerous businesses are drawing motivation from MicroStrategy’s Bitcoin strategy, with Semler Scientific and Metaplanet among them, and more being added to the list. It remains uncertain if the U.S. Government will follow the trend of Bitcoin purchasers, which includes those who bought the digital currency using funds seized from the Silk Road marketplace.
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2024-12-07 23:43