Michael Saylor Urges US to Replace Gold Reserves with Bitcoin
- Michael Saylor suggests U.S. to replace gold reserves with 20–25% of Bitcoin’s supply.
- US Bitcoin reserve proposal could push BTC valuation to $100 trillion, says Saylor.
- MicroStrategy now holds over 400,000 BTC, worth billions, as institutional adoption grows.
Michael Saylor, the Founder and Chairman of MicroStrategy, has proposed reallocating U.S. financial policy and focusing on Bitcoin instead of gold. Saylor explained his concept of how Bitcoin might improve the United States’ global capital network during an interview with Yahoo Finance.
Saylor’s Call for a National Bitcoin Reserve
Saylor claimed through Bitcoin, the US could strengthen its reserve status and control over global capital. He advises the U.S. government to acquire 20–25% at the current price, proposing a change from gold to Bitcoin.
Saylor claims adopting this strategy would fortify the United States as the world’s reserve capital network. Relying on Bitcoin, rather than gold, the United States could create approaches that could impact rival economies such as Russia and China. In Saylor’s opinion, these nations would sell their gold reserves and other assets to acquire BTC, thus restoring capital flows to the U.S.
Additionally, Saylor claims, Bitcoin’s market capitalization may rise to $100 trillion. This projection aligns with the current debates within the U.S. government regarding establishing strategic Bitcoin holdings.
Strategic Bitcoin Reserve Gains Traction
Saylor’s call for a Bitcoin reserve aligns with reports that the Donald Trump administration is considering a crypto advisory council. This body aims to explore the framework for integrating Bitcoin into the nation’s reserve strategy.
MicroStrategy’s aggressive BTC purchases made it one of the leading firms investing in cryptocurrencies. The firm recently purchased 15,400 BTC for $1.5 billion, it now owns more than 400,000 coins. Saylor’s support of Bitcoin is based on its value and impact on changing the current financial systems.
Other firms such as Semler Scientific and Metaplanet have also followed MicroStrategy by investing in Bitcoin proving that it is increasingly becoming mainstream for institutional investors. It is still unclear if similar strategies will be applied by the U.S. government. However, its recent action of seizing Bitcoins from criminal sources has made it more active in the digital Currency market.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Solana-based social graph protocol Tapestry raises $5.75 million in Series A funding
Tapestry raised $5.75 million in a Series A round co-led by Union Square Ventures and Fabric Ventures.Tapestry is a Solana-based social graph protocol designed to create an ecosystem of applications with social features.
The Daily: Trump 'receptive' to an 'America-first' crypto reserve, XRP hits new all-time high and more
President-elect Donald Trump is open to creating an “America-first” crypto reserve prioritizing U.S.-based coins like USDC, SOL and XRP, the New York Post reported, citing sources familiar with the matter.XRP hit a new all-time high of around $3.39 via major crypto exchanges on Thursday for the first time since January 2018, following a 16% surge in 24 hours and a 455% rise over the past quarter.A Litecoin ETF is the “most likely” next spot crypto ETF to be approved in the U.S., according to Bloomberg anal
Ripple CEO Says SEC's Opening Brief Is 'Definition of Insanity'
BTC breaks through $99,000