Michael Saylor: Suggests the U.S. government sell its gold reserves to purchase 20-25% of circulating Bitcoin

2024-12-08 11:25:30

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According to ChainCatcher news and reported by CoinGape, MicroStrategy founder and chairman Michael Saylor made key suggestions regarding the U.S. strategic Bitcoin reserve issue in a recent Yahoo Finance interview. He urged the U.S. government to sell all its gold reserves to buy Bitcoin instead, and suggested holding 20-25% of the current Bitcoin circulation.

Saylor analyzed that this move would bring three strategic advantages: first, it could strengthen the U.S. global reserve currency status; second, a large-scale sell-off by the U.S. would lead to a plummet in gold prices, creating economic difficulties for competitors holding large gold reserves (such as Russia and China); third, these countries might be forced to sell assets and turn to Bitcoin, ultimately leading to capital flowing back to the U.S., with the total value of Bitcoin reserves potentially reaching $100 trillion.

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