Bitcoin has reached yet another new record high today, briefly breaching 106k -- hitting $106,488.24 on a Sunday afternoon. To say it's getting overextended may not be an understatement, but it's showing no signs of stopping.

To add to the top, Microstrategy CEO Michael Saylor is suggesting that the United States should sell all of its gold for Bitcoin. According to Saylor, it would boost US assets to $100 trillion. Clearly, he believes in the cryptocurrency as a store of value. While many folks question Bitcoin's utility and use cases, increasing a country's assets is one that is being proposed by Saylor and currently being carried out by other countries.

Let's take a look at the countries who are currently stacking:

And, more likely than not, there are other countries who are accumulating Bitcoin and haven't disclosed it yet. It appears that holding BTC will play a significant role in the future global economy. We are in the very early innings of such a change, but it's happening right before our eyes.

Naturally, it's easy to be skeptical of Saylor's plan. His company, Microstrategy, has adopted the Bitcoin Standard and uses BTC for its primary treasury asset. It's self-serving for him and his organization to suggest the U.S. sell all of its gold for Bitcoin. But look at what the shift has done for Microstrategy:

Now, this all looks pretty good at this moment in time. But let's not forget the volatility of Bitcoin and how foolish Saylor looked after BTC crashed in 2021. I feel that there's no way U.S. lawmakers would ever agree to put the majority of the nation's assets in Bitcoin. For now, it seems that most financial advisors are suggesting no more than a 3-5% allocation into Bitcoin for individuals. That seems to be the responsible thing to do.

But the laser-eyed orange pillers are a special breed. While Saylor is serving his own self-interest by suggesting the U.S. swap its gold for crypto, there is pretty strong evidence that, over the long-term, it looks like it could be an intriguing move. It seems that countries may be "on the fence" when it comes to Bitcoin allocation. Germany sold all of its holdings this past July; 50k BTC that was seized from a criminal case. It should be noted that the majority of the United States holdings are also BTC that was seized from the Silk Road and Bitfinex hacks.

Whatever happens next, it's becoming clear to countries and individuals around the world that Bitcoin can serve as a strategic treasury asset. Nations must decide for themselves and answer the following question: are they willing to accept the risks and responsibilities that come a decentralized electronic money system?

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