MicroStrategy co-founder Michael Saylor says the US should offload all its gold and accumulate Bitcoin (BTC) as part of a new strategy to cement the country’s global financial dominance.
In a new interview on Yahoo! Finance, Saylor says Bitcoin is emerging as the “world’s reserve capital network.”
[adinserter block="1"]“People are realizing that Bitcoin is better than real estate, it’s better than stocks. There’s not a single company or real estate property that you would rather own for the long term than Bitcoin.”
Saylor, whose company owns the largest corporate holding of Bitcoin in the world, says the US should attempt to control up to a quarter of the entire Bitcoin network, and then force the price of gold down by unloading all its precious metal holdings.
Once gold is “demonetized,” Saylor says other countries will be forced to acquire BTC, sending their money into the United States via the BTC network, tilting the world financial chessboard back in favor of the US.
“So the very simple idea is to buy 20 or 25% of the Bitcoin network on behalf of the US government, catalyze the development of that world reserve capital network, and then let all the Chinese and the Russians and foreigners sell all their other assets and buy Bitcoin and then the money flows into the United States.
If you want to put a great twist on it, dump your gold, sell all the US gold, buy Bitcoin.
Then the trade is free because you could buy five million Bitcoin for the cost of the gold. You will demonetize the entire gold asset class and our enemies hold gold in their banks, so their assets would go to zero, our assets would go to a hundred trillion dollars and we would control the world’s reserve capital network as well as the world’s reserve currency network.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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