MicroStrategy CEO Urges US to "Sell Gold, Buy Bitcoin"

Bittime - Michael Saylor, CEO of MicroStrategy, is making waves again with his controversial call: "Sell all the gold and buy Bitcoin." Read more in this article!

These calls surfaced after MicroStrategy purchased 21,550 BTC worth $2.1 billion, bringing the company's Bitcoin holdings to 423,650 BTC, or about $42 billion. This large purchase also pushed the price of Bitcoin up slightly, touching $99,000.

Saylor, a long-time supporter of Bitcoin as a store of value, believes it has advantages over gold. With limited supply and blockchain technology, Bitcoin is considered more stable and transparent. 

Saylor also proposed that the US government make Bitcoin a state reserve, replacing gold. He even claims this could increase US assets by up to $100 trillion.

MicroStrategy: Bitcoin Investments for the Future

Source: X (@Cointelegraph)

Since first investing in 2020, MicroStrategy has spent $25.6 billion buying Bitcoin. The company aims to use Bitcoin as a long-term reserve asset, which it believes can protect against inflation and economic uncertainty. 

MicroStrategy now controls more than 2% of the total existing Bitcoin supply. This is a move that confirms its commitment to supporting global Bitcoin adoption.

Saylor also proposed that large companies, such as Microsoft, adopt Bitcoin as a cash reserve. He estimates this could increase Microsoft's valuation to $4 trillion, higher than achieved by conventional methods.

Read also: MicroStrategy Plans to Buy $2 Billion in Bitcoin!

Market Reaction and Bitcoin Price Prediction

After the latest purchase, the price of Bitcoin rose slightly, registering $99,000 per coin. The presence of large institutional investors, such as MicroStrategy, is considered to continue to boost demand and push Bitcoin prices to higher levels. 

A Bitcoin ETF in the US also managed to attract $2.73 billion in fresh funds in the past week, indicating high optimism in the market.

Saylor himself predicts that the global crypto market could grow rapidly, with valuations reaching $280 trillion by 2045, and Bitcoin prices could reach $13 million per coin. While these predictions sound ambitious, Saylor's belief in Bitcoin as the future of digital finance is increasingly clear.

Read also: MicroStrategy Chairman: Better Buy Bitcoin Than Microsoft Stock

Conclusion

Even though Bitcoin has great potential, investors still need to be wary of market volatility. Saylor believes that Bitcoin could replace gold as a safer store of value in the future. 

However, before deciding to invest, it is important for every investor to do research and understand the risks involved.

Bitcoin certainly attracts attention and shows long-term potential, but sharp price fluctuations remain a major investment consideration. The decision to buy Bitcoin should be based on a deep understanding of the market and global economic conditions.

FAQ About MicroStrategy

1. How much Bitcoin does MicroStrategy own?

MicroStrategy currently holds 423,650 BTC, purchased for a total of approximately $25.6 billion. The average price per Bitcoin paid by these companies will be $60,324 in December 2024.

2. What is MicroStrategy doing with Bitcoin?

MicroStrategy invests Bitcoin significantly as a reserve asset (treasury asset). Companies see Bitcoin as a hedge against inflation and as a more stable store of value in the digital age. This investment is also part of the company's long-term strategy to strengthen their financial position.

3. Why did MicroStrategy buy so much Bitcoin?

MicroStrategy sees Bitcoin as a superior alternative to traditional assets such as gold. By purchasing Bitcoin, companies aim to strengthen their financial reserves and support long-term growth. 

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Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

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Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference 

coindesk, MicroStrategy Makes Another Large Bitcoin Purchase, Buying 21,550 BTC for $2.1B, accessed December 10, 2024.

Coinpedia Sell Gold, Buy Bitcoin: MicroStrategy CEO Saylor Makes Bold Suggestion, accessed December 10, 2024.

X, Akun X Cointelegraph, accessed December 10, 2024.

Author: Y