• 34ºc, Sunny

Michael Saylor: Suggested that the United States sell its gold reserves to buy at least 20% to 25% of the bitcoin in circulation

Michael Saylor, founder and chairperson of MicroStrategy, participated in the strategic bitcoin reserve discussion and shared in a recent interview the key reasons why the United States needs to abandon gold and embrace digital currencies. In the one-minute video, Saylor says that BTC can help the US government control the world's reserve status and capital networks. He implies that his own suggestion is that the US government should buy at least 20% to 25% of the bitcoin in circulation. The US could sell all the gold in its reserves to buy bitcoin, Mr. Saylor said, a move that would make the US the World Reserve Capital Network. He believes that if the U.S. government takes this step, the value of gold will plummet and prompt other economies to sell assets to buy bitcoin. In this way, after the demonization of gold, capital will flow back to the United States, and the value of bitcoin reserves could jump to about $100 trillion.