CandleFocus MicroStrategy's Saylor Urges US to Ditch Gold and Buy Bitcoin
2024-12-08
Author: Content Editor
Michael Saylor, the executive chairman of MicroStrategy, has advocated for the U.S. government to sell all its gold and invest in Bitcoin instead. Saylor believes that Bitcoin is a superior store of value compared to gold, which he considers antiquated and vulnerable to corruption and confiscation. Other experts, including billionaire Mike Novogratz, have also suggested that Bitcoin could surpass gold in terms of market cap. The creation of a Bitcoin reserve by the U.S. government, as proposed by Wyoming Senator Cynthia Lummis, could further accelerate this trend. Betting platforms like Polymarket also see a 30% chance of a Bitcoin reserve being established in early 2025, prompting Novogratz to predict a price surge to $500,000 for Bitcoin.
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