Michael Saylor urges U.S. to sell gold, buy Bitcoin instead

Michael Saylor is calling on the US government to sell gold, which makes up more than half of the country’s financial reserves.

The US government is publicly known as one of the countries with the largest gold reserves, accounting for 72% of the total. According to TradingEconomics’ data as of December 09, the USA owned 8,133 tons of gold and dominated international commodity trade.

But Michael Saylor is urging the government not to buy more gold, but instead buy more Bitcoin (BTC) for future assets against inflation. He believes Bitcoin as a national reserve will rise to trillions of dollars.

“Throw away your gold, sell all US gold and buy Bitcoin because you can buy 5 million Bitcoin for the cost of gold. “You will demonetize the entire gold asset class and our enemies will hold gold in their banks and so their assets will go to zero while our assets will reach trillions of dollars.”

Here’s what Saylor says about X’s post in an interview with Yahoo Finance’s Market Domination:

In another case, Saylor expects Bitcoin’s market cap to skyrocket to $280 trillion, surpassing the $45 trillion gold market cap. Bitcoin’s latest market cap is $2 trillion.

Thanks to these predictions, Saylor will continue to buy Bitcoin every week and encourage more investors and institutions to become acquainted with Bitcoin. MicroStrategy currently holds 402,100 Bitcoins, equivalent to $40 billion.

Michael Saylor and Trump’s vision for the Bitcoin reserve

The Bitcoin Strategic Reserve was mainly introduced by President-elect Donald Trump when he had a chance to speak in front of the Bitcoin community earlier this July. This vision was followed by the BITCOIN Act proposed to Congress by Republican Senator Cynthia Lummis.

The vision of both figures (Trump and Saylor) was driven by Bitcoin’s anti-inflation utility and use cases. This move also inspired other institutions and nations to acquire or store their Bitcoins.

The presidential candidates of Poland and Suriname were two examples of how Bitcoin could influence their vision for their countries. Microsoft and Amazon have also been advised by their shareholders to buy Bitcoin on their balance sheets, which are now dominated only by cash and bonds.