Speaking In a recent interview about the benefits of a pro-bitcoin president for the U.S., American entrepreneur Michael Saylor has encouraged the United States to sell all the gold held in its reserve worth around $500 billion and switch to a strategic Bitcoin reserve, acquiring the crypto as a store of value for the country as did Central American El Salvador.
As the Bitcoin enthusiast stated, at the current bitcoin price, America would purchase about five million bitcoins (BTC) with its gold proceeds to become the largest known national bitcoin custodian, managing approximately 24% of the total bitcoin supply.
The United States should buy #Bitcoin and sell Gold.pic.twitter.com/HD69iy1EAO
— Michael Saylor⚡️ (@saylor) December 7, 2024
Bitcoin – World’s Reserve Capital Network
According to Saylor, Bitcoin is emerging as the world’s reserve capital network. Many professional and institutional investors are beginning to see BTC’s long-term prospects and have taken steps to adopt it as their reserve asset.
“People are realizing that bitcoin is better than real estate. It’s better than stocks. There is not a single company or real estate property that you would rather own for the long-term than bitcoin,” he said.
Notably, the U.S. president-elect, Donald Trump, has revealed plans to achieve what Saylor has stated. He promised to adopt a strategic Bitcoin Reserve for America during his campaign. Although he has not spoken about selling any percentage of the U.S. gold reserve, he highlighted that he would lead the country to purchase 200,000 BTC annually.
Saylor Leads the Way
Remarkably, Saylor does not only express confidence and support for Bitcoin. He has also taken the necessary action to ensure his participation in the profits from holding a strategic Bitcoin reserve. He owns over $1 billion worth of BTC.
Moreover, Saylor’s company, MicroStrategy, does not have any known gold reserves and is not focused on establishing any cash reserves. As the company’s chairman, Saylor has adopted bitcoin as MicroStrategy’s store of value, leading the company to become the first and largest corporate bitcoin holder.
Meanwhile, after its last known purchase, the business intelligence company holds about 402,100 BTC, 2% of the total bitcoin supply, and sits in more than 75% of profits.
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