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.
Exactly. Bitcoin could be the future but that won't mean gold will be out in the picture. Gold's value will still be significant in the next decade, however bitcoin will probably surpass what gold has to offer. The good thing here is, while we are holding bitcoin, we can always have gold for diversification. Surely, our wealth will be 10x fold than holding a single asset alone. 
Topic: Michael Saylor tells US to Dump Gold and Buy Bitcoin (Read 424 times)
I came across this news today that Microstrategy has purchased new 21550 BTC worth $2.1Billion.
That is a welcome development. with the way microstrategy Is buying and stacking bitcoin, bitcoin will climb to another height sooner as they continued buying, more valuable bitcoin becomes due to creating scarcity. hence the scarcity is the propelling force to bitcoin growth. Even though they might have developed their accumulating pattern but it is good because non have ever done It before .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".
Even as Michael sailor advises the US to follow suit with them to accumulate bitcoin and also telling them to sell all their Gold in reserve to invest in bitcoin, I still believe that it may not be possible because it's more of a public decision or electoral collective decision . It's impossible to sell all gold in the US reserve to buy bitcoin. Afterall Gold is also an asset just that it volatiliy is different from bitcoin.
Well, the choice of investing in Bitcoin should be a personal choice and not an obligation from someone. However, Michael Saylor sees the need to invest in Bitcoin rather than gold. As for me, I see both as a good long-term investment anyone can make. This means that I would suggest that both of them should be invested in ultimately if we have enough funds to do so rather than chosen one over the other. Bitgcoin has done impressively well over the years but same with gold. I can say that Gold still surpass Bitcoin in heirachy of asset.
Saylor's spirit towards Bitcoin seems very fanatical with his statement in the article you listed. Regardless of how Saylor thinks positively about his statement that tells us to throw away all the gold we have, gold is also not bad if it is used as a reserve.
Whether it is true or not, I remember that he also said that not selling Bitcoin will make a lot of profit.
If only Bitcoin is owned by a country as a reserve, when the price is below the purchase price, where can the country minimize the insufficiency due to a chaotic economy.
It would be better if Bitcoin and gold were both stored as a hedge even though gold takes a long time.
Whether it is true or not, I remember that he also said that not selling Bitcoin will make a lot of profit.
If only Bitcoin is owned by a country as a reserve, when the price is below the purchase price, where can the country minimize the insufficiency due to a chaotic economy.
It would be better if Bitcoin and gold were both stored as a hedge even though gold takes a long time.
Michael Saylor statement about US selling its gold and buying Bitcoin instead is definitely food for thought. Saylor thinks Bitcoin is new gold standard and that it is better than traditional gold for storing value. Other important people like Bernstein and Mike Novogratz agree with him. As more investors and companies on Wall Street start to see Bitcoin as good long term investment it is clear that Bitcoin is becoming popular way to store value. While Saylor idea might seem extreme it is hard to deny that Bitcoin is becoming serious alternative to traditional gold reserves.
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More Government involvement with bitcoin might be good for us don’t you think so?
More Government involvement with bitcoin might be good for us don’t you think so?
If you're only here for the price of BTC, then more government involvement in some positive sense may be good for you - but on the other hand, ask yourself what it means for a decentralized cryptocurrency when centralized government institutions start taking an interest in it. Such institutions do not accept something as it is, but work to adapt anything in a way that best suits them.
They exert their influence on BTC through CEXs, through the control of transactions through mining farms and finally, if necessary, through a fork in which they will try to impose some new BTC that will function according to their rules. Don't think it's impossible, they have everything they need to pull something like that off.
This is very basic. When you are managing big capital, you will prioritize what is safest in your opinion. Of course it is not only opinion, but must be from in-depth analysis before you decide to store your capital in what assets.
Before discussing about governments, I think we can use an example in this market. With a big investor, with big capital, Bitcoin is best choice, and maybe the next will be Ethereum, and that investor will have very little interest in meme tokens and shit coins. With small investor, there is more interest in betting on shitcoins, with hope to get rich quick.
Now, about governments, they can not bet their national treasury in something is risky. Bitcoin is promising but it's more risky than their own national currency. At least it's how they see that result in their decision to avoid Bitcoin.
Excellent! I like your analysis. Governments like what they can see and control and they can’t easily invest in bitcoin by dumping Gold. Even if bitcoin were to be adopted as a Reserve, not all Nations will easily accept it.Before discussing about governments, I think we can use an example in this market. With a big investor, with big capital, Bitcoin is best choice, and maybe the next will be Ethereum, and that investor will have very little interest in meme tokens and shit coins. With small investor, there is more interest in betting on shitcoins, with hope to get rich quick.
Now, about governments, they can not bet their national treasury in something is risky. Bitcoin is promising but it's more risky than their own national currency. At least it's how they see that result in their decision to avoid Bitcoin.
If the US were to listen to Saylor the results will be anarchy and chaos in the market and the Governments wouldn’t want that, So it’s a big NO.
Though I like Saylor but he’s becoming a bitcoin Zealot, if he’s not one already. I guess He’s just too excited about Bitcoin.
More Government involvement with bitcoin might be good for us don’t you think so?
In my opinion, it's good that Michael Saylor tell people to dump gold and buy bitcoin as it will increase the demand of bitcoin and the more people demand bitcoin is the less supply there is which means it will become a factor to bitcoin price increase.
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You have at least two problems in that story that apparently only a few people pay attention to. The first is that, strange as it may seem, Saylor is quite unknown/influential globally, as is clearly seen from the following example.
In the last month or so, his company bought about $15 billion worth of BTC, while at the same time all the spot BTC ETFs (US) bought about $10 billion worth - and you know who is the most talked about and who has the biggest impact on the market? Of course it's not Saylor and his company.
Another problem is convincing anyone who owns gold (if we're talking about retail buyers) to sell something shiny and tangible and buy something digital and intangible. Go out on the street and ask a hundred random people a question - "I'm giving you a choice, 1 kg of gold or 1 BTC, what will you take?" I think 90% of people would take gold without thinking, it's simply something that people will perceive much more easily as a value that they can see and feel in their hands.
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Bitcoin is digital Gold, but it was not created to replace Gold or other valuable assets. Bitcoin was created as a potential solution and alternative to the monetary system, which was abused by institutional banks and central banks.
What Saylor said is just an enthusiastic statement to boost the confidence and hype of Bitcoin in the face of people who are still skeptical about it.
Bitcoin is never in competition with Gold, or fiat currency. I hope what he said won't give a negative impression in the minds of some people because BTC's overthrow of fiat was the impression the government once had that prevented them from supporting the Bitcoin movement.
What Saylor said is just an enthusiastic statement to boost the confidence and hype of Bitcoin in the face of people who are still skeptical about it.
Bitcoin is never in competition with Gold, or fiat currency. I hope what he said won't give a negative impression in the minds of some people because BTC's overthrow of fiat was the impression the government once had that prevented them from supporting the Bitcoin movement.
I came across this news today that Microstrategy has purchased new 21550 BTC worth $2.1Billion.
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I read it too. The title was something like "Microstategy will always buy the top" or something like that.
I heard some news also, almost a month ago, about Senator Lummis pushing to sell some of the fed's gold to buy Bitcoin. I haven't heard about it anymore, so this proposal may be in standby, but the idea seems to be in vogue in some circles.
Anyway, and even if I'm a strong Bitcoin believer, and I think that its potential is still much higher than gold's, I also think that diversification in gold is a good way to mitigate risks inherent to the volatility of cryptos.
In my opinion, it's good that Michael Saylor tell people to dump gold and buy bitcoin as it will increase the demand of bitcoin and the more people demand bitcoin is the less supply there is which means it will become a factor to bitcoin price increase. Anyway, as others have said that gold and bitcoin are two different assets although many people compares the two assets which is fine in my opinion but people should think that if they are a gold investor then they should think about bitcoin as an alternative asset to invest if they want or both if they have the means to do so.
Dumping gold to buy or invest in bitcoin is not what any country who holds gold as it's national reserve will accept as great advise. Most they can do is to add bitcoin side by side the gold as alternative which ultimately that's what bitcoin serves, as alternative to conventional financial assets. The USA adopting bitcoin as national reserve will be a milestone for bitcoin because many other nations will be moved to follow their path.
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.
It is interesting and more and more people are starting to see Bitcoin's ability to adapt to the needs of the majority of people so that it can surpass it very quickly than expected. Silver's capitalization is now inferior to Bitcoin and I have not checked whether Gold has been surpassed by Bitcoin, but it does not really matter because Bitcoin's growth is getting bigger with the current conditions. Bitcoin is still an alternative and that means it is not in the capacity to replace because we hope that everything can work according to its respective capacities.So Gold is past tense, Bitcoin is the present and future tense.
Bitcoin continues to grow because the adoption is getting wider and the trust in Bitcoin is also increasing. This is going to be something very extraordinary and Bitcoin will be a very sought after investment source for the future and we should be able to accumulate it slowly to hold it in the long term.
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".
Michael Saylor sounds more political than economical. Is he advocating that the US should make the gold reserve of unfriendly countries worthless? He should have known that the US and its allies have the highest gold reserve. China and Russia which I can view as the enemies of the US don't have as much as the US and partners. I am sure no reasonable policy maker will take this advice because it doesn't make sense. The US will always keep it's gold since it gives them advantage over other nations. 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".
Gold was never a past tense and will never be a past tense, even when Bitcoin surpasses it in the nearest future ...
Hence, both are worth your investment,if you have Gold hold your gold and build you Bitcoin portfolio as well ,it doesn't affect each other , I prefer Bitcoin over gold though but i don't think dumping your gold to buy Bitcoin is a good option but buying bitcoin along with your gold asset is a good option and sure Bitcoin might be the future but Gold will continue to exist imo NMW so there's no need of dumping unless investor think of taking their profit .
Hence, both are worth your investment,if you have Gold hold your gold and build you Bitcoin portfolio as well ,it doesn't affect each other , I prefer Bitcoin over gold though but i don't think dumping your gold to buy Bitcoin is a good option but buying bitcoin along with your gold asset is a good option and sure Bitcoin might be the future but Gold will continue to exist imo NMW so there's no need of dumping unless investor think of taking their profit .
I even doubt the U.S. would easily pass a law to buy Bitcoin as a strategic reserve, so I don’t think they’ll buy into what Saylor is talking about. In his company, he can make decisions with just a small group of people, but for the U.S., such a decision wouldn’t happen with just the president alone.
I don’t know what’s going on with him lately, it feels like he just wants everyone to jump on the FOMO train so that, when Bitcoin’s price skyrockets, he can dump his holdings and make a massive profit. Then, who knows, maybe he’ll start shilling altcoins like DOGE or other meme coins.
I actually like Saylor, but when he says to dump gold and buy Bitcoin, it feels like a big disrespect to one of the world’s most precious assets. I know he’s smart, so I think he doesn’t fully mean what he’s saying - I see this as more about grabbing attention.
I don’t know what’s going on with him lately, it feels like he just wants everyone to jump on the FOMO train so that, when Bitcoin’s price skyrockets, he can dump his holdings and make a massive profit. Then, who knows, maybe he’ll start shilling altcoins like DOGE or other meme coins.
I actually like Saylor, but when he says to dump gold and buy Bitcoin, it feels like a big disrespect to one of the world’s most precious assets. I know he’s smart, so I think he doesn’t fully mean what he’s saying - I see this as more about grabbing attention.
Those who know about that situation would provably agree that there's no way for Gold to go zero and provably that Michael Saylor just want people to buy more bitcoin since he know for his self that once the demand rise and price goes up. Their company would earn a lot of money. So People should expect about him saying that since favor always go in their side if they can hype a lot of people. Hard to see that scenario he said will came true since we know that Gold is well establish asset.
Maybe he just want to confuse people that's why we should not always listen to those people and more better for us to have critical thinking and do to avoid digesting much anything that can mislead us.
Gold and Bitcoin are like direct competitors and Michael Saylor wants to see more people joining this market and bringing new capital into this market, while there is Peter Schiff who wants to see people to join gold market and bring their money there.Maybe he just want to confuse people that's why we should not always listen to those people and more better for us to have critical thinking and do to avoid digesting much anything that can mislead us.
They don't want the opposite asset to exist but I believe these smart guys know that both Gold and Bitcoin will exist together. Bitcoin won't kill Gold and Gold won't kill Bitcoin, they will exist together. The rest is up to investors to spend their capital into only either Gold or Bitcoin or split it to both assests.
I believe that Peter Schiff knew that he was wrong about Bitcoin several years ago, but he continues to be Anti-Bitcoin, it's because he does his job to maintain investors and investment capital in Gold market as much as possible.
That is a very stupid thing to say specially these years that powerful countries are accumulating gold and the global tensions are continuously rising. Which means gold price will continue to appreciate.
As much as I like bitcoin, it doesn't make gold any less valuable right now. It is also fantastic for diversification (ie. to have both gold and bitcoin) which is a very important thing for any investor to do, both individuals and governments.
Maybe Saylor is saying this because now it is possible that BRICS members have far more gold than US?
As much as I like bitcoin, it doesn't make gold any less valuable right now. It is also fantastic for diversification (ie. to have both gold and bitcoin) which is a very important thing for any investor to do, both individuals and governments.
Maybe Saylor is saying this because now it is possible that BRICS members have far more gold than US?
Those who know about that situation would provably agree that there's no way for Gold to go zero and provably that Michael Saylor just want people to buy more bitcoin since he know for his self that once the demand rise and price goes up. Their company would earn a lot of money. So People should expect about him saying that since favor always go in their side if they can hype a lot of people. Hard to see that scenario he said will came true since we know that Gold is well establish asset.
Maybe he just want to confuse people that's why we should not always listen to those people and more better for us to have critical thinking and do to avoid digesting much anything that can mislead us.
That is a very stupid thing to say specially these years that powerful countries are accumulating gold and the global tensions are continuously rising. Which means gold price will continue to appreciate.
As much as I like bitcoin, it doesn't make gold any less valuable right now. It is also fantastic for diversification (ie. to have both gold and bitcoin) which is a very important thing for any investor to do, both individuals and governments.
Maybe Saylor is saying this because now it is possible that BRICS members have far more gold than US?
As much as I like bitcoin, it doesn't make gold any less valuable right now. It is also fantastic for diversification (ie. to have both gold and bitcoin) which is a very important thing for any investor to do, both individuals and governments.
Maybe Saylor is saying this because now it is possible that BRICS members have far more gold than US?
I fully agree with Michael Saylor about dumping the gold and buying Bitcoin. Gold used to be a good medium as a reserve storage but only when Bitcoin wasn't there, however now Bitcoin is here and it's way better than gold as reserve storage option.
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Do you know what would happen if there were serious disruptions to the internet and electricity supply? It's always good to have some gold as insurance in case all this technology collapses completely for one reason or another - and then BTC or fiat would be worth nothing, but gold would still have some value.
Saylor is increasingly turning into a fanatic who buys BTC because he thinks it's his life's mission, but the goal is not to have as much as possible, but to use as much as possible in the way Satoshi envisioned.
Having a diversified portfolio is important. Saylor should know this basic information. Bitcoin is not the only financial asset in the world.
Thats true. Gold is also as limited as it could be as its a naturally occuring substance where we can get through limited places. Imagine theres no place to mine those gold in the world after how many years. It could also as limited like bitcoin, so if you are an investor of gold dont be swayed by the idea. Bitcoin is good but we are talking about other product investment asset which has served as economic level too. Not only that, gold is an industrial metal. Every phone, every computer has some in it. We use gold in these electronic devices because there isn’t a better alternative. No other metal can replace gold because gold does not oxidize and it is a great conductor. Silver is a better conductor but it does oxidize. Copper is a OK conductor but it also oxidizes. Gold is scarce, gold does not oxidize, gold is the second greatest conductor; all these properties make gold valuable.
Selling it would be super duper dumb. Shit like that makes me believe that Saylor is a huge troll.
We must understand that different assets have unique characteristics and roles in various sectors. Gold, a physical asset, has endured for centuries and possesses significant economic potential. On the other hand, Bitcoin is a digital asset that offers convenience and financial opportunities.
Investing in gold is not wrong, and as a gold holder, you're free to sell it if you choose to. However, advising everyone to sell their gold is contradicting. Gold steadily increases in value.
On the other hand, the crypto market including Bitcoin, is volatile. While we enjoy the benefits, we're always aware that a bear market might be looming. This uncertainty makes it unwise to sell all other assets, especially gold, to invest solely in Bitcoin.
I doubt that anyone who truly understands the value of gold would sell it simply because of a news report.
Investing in gold is not wrong, and as a gold holder, you're free to sell it if you choose to. However, advising everyone to sell their gold is contradicting. Gold steadily increases in value.
On the other hand, the crypto market including Bitcoin, is volatile. While we enjoy the benefits, we're always aware that a bear market might be looming. This uncertainty makes it unwise to sell all other assets, especially gold, to invest solely in Bitcoin.
I doubt that anyone who truly understands the value of gold would sell it simply because of a news report.
I don't think anyone who can think for themselves would take him serious on this one, it is not possible for gold to go to zero, neither is it possible for everyone who owns gold to sell it. Gold is a proven store of value and it retains its value in the worst times, bitcoin is more volatile and can accrue more ROI for its investors, but it is more risky than gold, and people who do not like to bear so much risk would buy gold over bitcoin.
To crazy to think that situation where in fact all countries in the world has its own gold reserve so provably that situation is irreplaceable and hard to penetrate by Bitcoin.
People should not forgot that they are one of the biggest Bitcoin holder and if they could able manipulate the mind of investors then provably that there's huge benefits or profits to take from those event especially if they can influence people to buy more Bitcoin.
I'd rather have Gold to aside from Bitcoin since this will add another security layer when it comes protection from our personal investment and its good to have two strong assets in our portfolio rather than just having one only.
I fully agree with Michael Saylor about dumping the gold and buying Bitcoin. Gold used to be a good medium as a reserve storage but only when Bitcoin wasn't there, however now Bitcoin is here and it's way better than gold as reserve storage option.
It doesn't hold any weight and it's totally virtual in nature, and that's more than enough to make it a better option than gold or any such physical matter. Gold won't lose its value we all know because it's also unique when it comes to physical things but of course Bitcoin is better than it.
It doesn't hold any weight and it's totally virtual in nature, and that's more than enough to make it a better option than gold or any such physical matter. Gold won't lose its value we all know because it's also unique when it comes to physical things but of course Bitcoin is better than it.
Despite that Bitcoin is a digital Gold of our generation but I doubt if it will replace, both will continue to exist for people to diversify as they say variety is the spice of life. Gold has its physical value whereas Bitcoin don't, we use gold in the production of so many things, so the value and demand continue to be there, What they can do is to include Bitcoin into their treasures most likely in the coming future officially make Bitcoin a superior store of value, that is having more reseerve into Bitcoin.
I don't think anyone who can think for themselves would take him serious on this one, it is not possible for gold to go to zero, neither is it possible for everyone who owns gold to sell it. Gold is a proven store of value and it retains its value in the worst times, bitcoin is more volatile and can accrue more ROI for its investors, but it is more risky than gold, and people who do not like to bear so much risk would buy gold over 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.
You are right, no one should badmouth gold, Criticize gold doesn't mean that Bitcoin will develop or won't develop, Bitcoin has its nature that no one can stop, Bitcoin can have value than other coins or gold but that doesn't stop people from having interest on them, Criticize gold will make some people think negative about Bitcoin, the reason why I said that is because it's not what another person is thinking you are thinking, everybody has their option to choose what he or she will invest in.
I prefer Bitcoin to any other investment but criticism of gold doesn't sound good, Michael Saylor may see Bitcoin as something that will have more value than any other investment but he should not say that, he is trying to discourage people from what they are doing and that is not a good thing, Bitcoin will remain Bitcoin while the other investment will also remain the same as their own.
The suggestion only good for retailers since they don't have a lot money, unlike multi millionaires who have at least $100 Million, such huge amount should need to diversify their investment and don't be too greedy. Hence I choose to invest in high volatility assets since I'm not yet have a lot of money.
This is very basic. When you are managing big capital, you will prioritize what is safest in your opinion. Of course it is not only opinion, but must be from in-depth analysis before you decide to store your capital in what assets.Before discussing about governments, I think we can use an example in this market. With a big investor, with big capital, Bitcoin is best choice, and maybe the next will be Ethereum, and that investor will have very little interest in meme tokens and shit coins. With small investor, there is more interest in betting on shitcoins, with hope to get rich quick.
Now, about governments, they can not bet their national treasury in something is risky. Bitcoin is promising but it's more risky than their own national currency. At least it's how they see that result in their decision to avoid Bitcoin.
The suggestion only good for retailers since they don't have a lot money, unlike multi millionaires who have at least $100 Million, such huge amount should need to diversify their investment and don't be too greedy. Hence I choose to invest in high volatility assets since I'm not yet have a lot of money.
However, Bitcoin price is keep hovering at $98K, so most people not take his opinion seriously.
However, Bitcoin price is keep hovering at $98K, so most people not take his opinion seriously.
All i can say concerning making a decision in-between gold and bitcoin is that, bitcoin is more profitable and decentralized than gold, we can have the higher portion of our investment on bitcoin, while we also put in some amount of money on gold as well, because we need to make use of a particular strategy like the investment diversification for more profitability opportunities, we cant afford to have all our eggs on the same basket, both bitcoin and gold are a good recommendation for an investment.
Having a diversified portfolio is important. Saylor should know this basic information. Bitcoin is not the only financial asset in the world.
Thats true. Gold is also as limited as it could be as its a naturally occuring substance where we can get through limited places. Imagine theres no place to mine those gold in the world after how many years. It could also as limited like bitcoin, so if you are an investor of gold dont be swayed by the idea. Bitcoin is good but we are talking about other product investment asset which has served as economic level too.
That’s not a wise move imo. It doesn’t have to be one or another either. I like Mike but if he really said that he was very stupid. The US can print money and buy as many bitcoins as they want. Why sell gold? If the US gov is smart, they won’t listen to Saylor. I mean It would be good if they bought btc but they don’t have to sell their gold necessarily.
Having a diversified portfolio is important. Saylor should know this basic information. Bitcoin is not the only financial asset in the world.
Having a diversified portfolio is important. Saylor should know this basic information. Bitcoin is not the only financial asset in the world.
So Gold is past tense, Bitcoin is the present and future tense.
The manner in which the landscape is evolving in the financial world can be fascinating. Bitcoin have shown a lot of potentials in the this market and the impact it is creating on the financial market is remarkable. Gold have been in existence as a store of value long before the existence of Bitcoin but it doesn't mean it should continue, it is likely to get replaced by bitcoin or another suitable replacement asides bitcoin may come up, or even if it is bitcoin, not yet I think, because it has to pass through the stage of general acceptance.Michael Saylor and Mike Novogratz may already be thinking in that line, but not everyone yet.
I came across this news today that Microstrategy has purchased new 21550 BTC worth $2.1Billion.
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Not so long ago he bought BTC worth over $10 billion, and I don't see why this news led you to open a topic in B&H considering that there are several similar topics in other boards? Besides, Saylor has dived into BTC so deeply that he can't say anything else except that everyone should sell everything they have and invest in BTC.
Billionaire Mike Novogratz, despite himself being a gold investor, has also predicted that Bitcoin could eventually surpass the yellow metal by market cap.
Does anyone still listen to the man who was so "smart" as to promote one of the biggest scams in cryptocurrency history?
So Gold is past tense, Bitcoin is the present and future tense
Not as easy as some think - because such changes do not happen overnight, and I would dare say that this one (if it happens) will last several dozen years. Gold is something that has had its value for millennia, not to mention its use in various industries.
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 don't need to kick out gold to become the number one investment asset in the world, it is already gaining massive recognition and adoption. Bitcoin and gold can coexist, nothing stops any individual, institutions or countries to have both in their reserves or choose to hold only one of them. Gold have built a solid reputation over the ages and I doubt that any other reputable assets like Bitcoin can push it aside. I can understand Michael Saylor's strong believe in Bitcoin, that it will surpass every other valuable assets but that can not mean that gold can be pushed aside. hero member
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Bitcoin and Gold are completely different assets and comparing them doesn't make any sense to me.
Bro, people comparing them in terms of investment assets. Bitcoin was created to be your own money, it is one kind of asset. But due to its nature, slowly it is turned into an investment asset like Gold. The difference is, Bitcoin is not physical and you could lose it if you do not store your data safely. But if you compare Gold with Bitcoin just as an investment asset, then Bitcoin is way ahead of Gold.
The only negative side is, that Bitcoin is too volatile. But you could take it positively as well. Due to this nature, you have a chance to gain more within a short time period as well. One should invest in Bitcoin knowing all these facts, otherwise, they could ignore and go forward with their gold.
Gold has very long history and gold market is bigger than Bitcoin market. At national level, it is hard for a government to dump their gold reserve and convert it to bitcoin. At individual or company level, it is more easily to do this reserve switch because if you fail, it will be an individual or company failure and won't affect too many people.
I love bitcoin but governments will not simply look at Microstrategy portfolio, El Salvador portfolio, Bhutan portfolio and take similar action. Small countries can do it first, but it is harder and more challenging for big nations doing this. It requires dominant agreement of their national Congress too. It is not easy.
I love bitcoin but governments will not simply look at Microstrategy portfolio, El Salvador portfolio, Bhutan portfolio and take similar action. Small countries can do it first, but it is harder and more challenging for big nations doing this. It requires dominant agreement of their national Congress too. It is not easy.
I believe in the narrative that Bitcoin is the new gold, but please note that Bitcoin is a fairly volatile asset with its price increases and decreases, so we must be wise to determine our investment path. And, i also believe that Bitcoin will pass the gold marketcap, but i think it still takes a long time. So i think it is a wise if we don't rush to decide to put all the eggs in one basket, it is good to separate the existence of our assets, be it in gold or Bitcoin. For Bitcoin, i have full confidence that it will pass the gold marketcap on long term terms, and that is the thing that needs to be realized to determine our attitude towards investment.
I see that advice as a self centered advice because Saylor has already accumulated large quantity of bitcoin and if others do what he said, it will favor him the more and those having gold will use their asset that they have kept for so long to buy bitcoin for him to make more profits. Let Saylor leave those who invested in gold because gold is the first safe haven asset that has being in existence for long and is guaranteed. Gold became a reserve before bitcoin, you can diversify instead of selling all.
His suggestion is rather insane, there are reasons why government have all kinds of assets or goods on their treasury.
And it's worth to mention many kinds of electronic device or component use gold.
Gold has been around for such a long time it is not only impossible to convince almost everybody to sell it but it is extremely dumb to think it is a good idea. Sure, Bitcoin is great. But Gold has its own advantages and use too. It is being vastly used in industry. Which means it is impossible for Gold to drop to zero like he says, even if everybody sold it.
And it's worth to mention many kinds of electronic device or component use gold.
This is a very dumb plan.
Gold has been around for such a long time it is not only impossible to convince almost everybody to sell it but it is extremely dumb to think it is a good idea. Sure, Bitcoin is great. But Gold has its own advantages and use too. It is being vastly used in industry. Which means it is impossible for Gold to drop to zero like he says, even if everybody sold it.
Bitcoin offers a volatility Gold never has. If you ask me, it is much less safer than Gold in the event of a catastrophe or the likes. And even today, Bitcoin is still an experiment. None of us knows if it is here to stay forever, while Gold definitely is. Why the hell would I sell an Asset that provided Safety for so long in exchange for a Cryptocurrency that has only been around for a little over a decade?
Gold has been around for such a long time it is not only impossible to convince almost everybody to sell it but it is extremely dumb to think it is a good idea. Sure, Bitcoin is great. But Gold has its own advantages and use too. It is being vastly used in industry. Which means it is impossible for Gold to drop to zero like he says, even if everybody sold it.
Bitcoin offers a volatility Gold never has. If you ask me, it is much less safer than Gold in the event of a catastrophe or the likes. And even today, Bitcoin is still an experiment. None of us knows if it is here to stay forever, while Gold definitely is. Why the hell would I sell an Asset that provided Safety for so long in exchange for a Cryptocurrency that has only been around for a little over a decade?
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.
It seems like this is better, so both are trustworthy. It's interesting but crazy enough for the system of government and the banks within the country. Because in a few decades I have observed that the state will choose economic policies with a definite value, meaning that the future with its value tends not to fluctuate and tends to just rise. Logically, the state is reluctant to lose and the problem is that the state is unable to control and this makes them think that Bitcoin endangers the economy of the country and the world. I feel happy if Saylor's proposal is accepted, but I don't think it will happen anytime soon.
While we are with him for his advocacy to tell people to buy and hold Bitcoin. We cannot remove the fact that everyone is free to choose the assets that they want to invest. There's nothing to worry about Bitcoin because it's set as a deflationary currency and it makes it even scarcer in the coming years so its value will continue to rise. It's him and he's influential so he can tell what he wants to say and it's a plus marketing for Bitcoin. We have to appreciate what he does and put his money from his pocket to his mouth and say that he's really into it. I won't be surprised if other economists or financial experts tell him that he is becoming emotional just because BTC reached $100k and new ATHs.
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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