Canadian Billionaire Lambasts Saylor Over Anti-Gold Comment

Canadian billionaire Frank Giustra has slammed Strategy's Michael for recommending investors to sell Bitcoin. 

Giustra dismisses the notion of dumping gold and buying Bitcoin as naive or dangerously oversimplified. 

He has pointed out that for the past 15 years, countries outside the G7 (much of the developing world, including China and India) have been accumulating gold aggressively. This makes gold a much more resilient and globally supported asset than Saylor assumes.

Unlike decades ago, the US no longer has the unilateral power to manipulate or "demonetize" gold, which is why he claims that Saylor is wrong. 

Even if the US tried to sell all its gold and buy Bitcoin, Giustra argues the plan would fail because there wouldn’t be enough Bitcoin buyers. 

If China and other emerging economies hold far more gold than widely believed, then Saylor’s idea that the US could “demonetize” gold by buying Bitcoin is impossible. 

As reported by U.Today, Giusta previously slammed Saylor as a "Bitcoin charlatan."

Giustra’s stance toward Bitcoin

Giustra generally treats Bitcoin not as a "digital gold" or a safe‑haven, but as a speculative asset. 

In April, as reported by U.Today, he stated that these two are drastically different assets.