Topic: Michael Saylor tells US to Dump Gold and Buy Bitcoin - page 3. (Read 359 times)
Why do we need to have the mentality that Bitcoin must kick out the other Gold, Fiat etc? Why can't they all co-exist if they are doing well in their own right? This is what causes conflict because you feel yours is better than the other and so you do all you can to demarket the other. This doesn't make anyone who do it better than Peter Schiff. I can own gold and own Bitcoin too, it is my choice. Bitcoin will do fine without gold and so will gold do without Bitcoin. We just have to keep playing our part in the global adoption of Bitcoin.
Bitcoin and Gold are completely different assets and comparing them doesn't make any sense to me. It is understandable if someone says that one should sell their Gold and buy Bitcoin for investment purposes because the price of Bitcoin tends to be more volatile than Gold which could be an advantage. However, that doesn't mean Gold is useless and doesn't have any advantages.
Gold is a precious metal, and Bitcoin is a form of currency because it can be used for sending and receiving money, it can be used as a payment method which is the primary purpose of its creation, on the other hand, Gold isn't meant to be used as a payment method.
When it comes to governments and their reserves, the reason why most of them prefer Gold is because its value doesn't go down much which makes it a safer option for them when compared to Bitcoin.
Gold is a precious metal, and Bitcoin is a form of currency because it can be used for sending and receiving money, it can be used as a payment method which is the primary purpose of its creation, on the other hand, Gold isn't meant to be used as a payment method.
When it comes to governments and their reserves, the reason why most of them prefer Gold is because its value doesn't go down much which makes it a safer option for them when compared to Bitcoin.
Bitcoin is not a replacement but an alternative. I just see this like how central banks and some governments in the world disliked bitcoin in past. Gold can continue to exist while bitcoin adoption also continues. I like Michael Saylor but I see what he said about selling of gold and buying of bitcoin to be biased. Gold is an asset that no one should badmouth. I prefer bitcoin but I can not badmouth gold. Michael Saylor should not become like Peter Sheriff.
I came across this news today that Microstrategy has purchased new 21550 BTC worth $2.1Billion.
Michael Saylor who’s an advocate for bitcoin and creation of bitcoin reserves, has recently told yahoo finance in his words "Dump your gold. Sell all the US gold and buy Bitcoin. 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 $100 trillion".
Imagine if the US takes up Michael’s strategy, the disturbance and chaos it’ll cause other nations who hold gold in reserves.
He has previously described gold as an antique which peaked in the 19th century and is no longer working.
Bitcoin as we know it is actually the NEW GOLD and it’s more advantageous than gold.
Even Bernstein says “Bitcoin will take the place of gold in the world economy in the next decade”.
Wall Street investors and corporations have really embraced bitcoin as a long term investments and see it as the new age premier store of value.
Billionaire Mike Novogratz, despite himself being a gold investor, has also predicted that Bitcoin could eventually surpass the yellow metal by market cap.
So Gold is past tense, Bitcoin is the present and future tense.
Source: https://u.today/microstrategys-saylor-urges-us-to-ditch-gold-and-buy-bitcoin?amp
Michael Saylor who’s an advocate for bitcoin and creation of bitcoin reserves, has recently told yahoo finance in his words "Dump your gold. Sell all the US gold and buy Bitcoin. 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 $100 trillion".
Imagine if the US takes up Michael’s strategy, the disturbance and chaos it’ll cause other nations who hold gold in reserves.
He has previously described gold as an antique which peaked in the 19th century and is no longer working.
Bitcoin as we know it is actually the NEW GOLD and it’s more advantageous than gold.
Even Bernstein says “Bitcoin will take the place of gold in the world economy in the next decade”.
Wall Street investors and corporations have really embraced bitcoin as a long term investments and see it as the new age premier store of value.
Billionaire Mike Novogratz, despite himself being a gold investor, has also predicted that Bitcoin could eventually surpass the yellow metal by market cap.
So Gold is past tense, Bitcoin is the present and future tense.
Source: https://u.today/microstrategys-saylor-urges-us-to-ditch-gold-and-buy-bitcoin?amp
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