An executive of an American business intelligence company urged the US government to buy more Bitcoin and build a national reserve to enhance the country’s economic dominance.
MicroStrategy executive chairman Michael Saylor made a controversial suggestion that the US should sell its gold reserves to build the nation’s reserve.
Exchange Gold For Bitcoin
Saylor once again brought an eccentric proposal that would surely earn a lot of criticism, urging the US government to swap its gold reserve for Bitcoin.
The MicroStrategy executive, known as a staunch advocate of Bitcoin, told the US to rethink its economic strategy and shift towards the firstborn cryptocurrency.
In an interview with Yahoo Finance, Saylor made a bold recommendation that the country’s leadership should dispose of all its gold reserves so the government can buy more Bitcoin.
Image: Firstpost
“Dump your gold, sell all the US gold, and buy Bitcoin because you can buy 5 million Bitcoin for the cost of the gold,” he remarked.
Don’t Buy More Gold
Saylor dissuaded the US government from purchasing more gold for its national reserve.
The Bitcoin supporter has previously noted that gold is an ineffective store of value, saying that gold is “antiquated” and has many vulnerabilities.
The United States should buy #Bitcoin and sell Gold.pic.twitter.com/HD69iy1EAO
— Michael Saylor⚡️ (@saylor) December 7, 2024
For instance, he explained that moving a significant volume of gold would have logistics challenges which is, according to him, the
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Author: Christian Encila
