The president of MicroStrategy outlines a strategy to transform the U.S. into the global leader in the digital asset economy.
Michael Saylor, president of MicroStrategy, has presented a proposal to reshape U.S. policy on digital assets under a future Trump administration. The framework aims to shape the future of cryptocurrencies in the United States. His proposal includes a strategic Bitcoin reserve that could generate between $16 trillion and $81 trillion for the U.S. Treasury, enough to partially or completely eliminate the national debt.
Saylor’s proposal is built on three pillars. First, a clear classification of digital assets into six categories:
- Digital commodities like Bitcoin
- Digital securities such as tokenized stocks and bonds
- Digital currencies tied to fiat money (stablecoins)
- Digital tokens used for specific functions in digital ecosystems (utility tokens)
- Digital NFTs representing unique ownership of items like artwork
- Digital ABTs, tokens backed by physical assets like gold or oil
Secondly, the framework outlines a precise definition of rights and responsibilities for all players in the crypto market. Finally, it proposes a practical approach to regulation led by the industry itself.
Saylor stated:
The framework defines the rights and responsibilities of all participants in the digital economy: issuers, exchanges, and asset owners. It proposes a global, real-time system for creating, trading, and managing digital asset ownership. Issuers will be responsible for providing transparent information and acting ethically, while still maintaining the right to create new digital assets. Exchanges will be allowed to trade and transfer assets but must ensure transparency, protect client funds, and avoid conflicts of interest. Owners will have the right to self-custody and trade their assets but must comply with local laws. This approach incorporates both civil and criminal responsibility, ensuring that everyone knows the rules and the consequences.
Furthermore, compliance costs should not exceed 1% of assets under management, and annual maintenance costs should not exceed 0.1%.
Saylor’s proposed model also includes streamlining the issuance and management processes for digital assets, with the goal of democratizing access to financial markets and generating trillions of dollars in new economic value.
The Trump administration seems ready to embrace the crypto sector with several initiatives: from creating a strategic Bitcoin reserve to forming an advisory board that could include leaders from Kraken, Ripple, and Circle. Appointments like former SEC commissioner Paul Atkins and former PayPal COO David Sacks signal a shift from the more restrictive approach of the current administration.
