Official announcements from the U.S. Treasury Department or Federal Reserve

Michael Saylor Advocates for U.S. to Sell Gold and Buy Bitcoin, Holding 20-25% of Circulation to Reach $100 Trillion in Assets

Dec 7, 2024, 07:21 PM

Michael Saylor, the founder of MicroStrategy, has proposed that the United States sell all its gold reserves and invest in Bitcoin to enhance its global reserve currency status. Saylor argues that this strategy would not only demonetize gold, particularly affecting nations like Russia, China, and others that hold gold in their banks, but also position Bitcoin as a dominant asset. He suggests that the U.S. should aim to hold 20-25% of the current Bitcoin circulation, which he believes would lead to significant economic advantages for the country, potentially increasing U.S. assets to $100 trillion. Saylor's comments reflect a growing trend among global billionaires favoring digital assets over traditional geographical ones.