MicroStrategy founder Michael Saylor has voiced strong support for President-elect Donald Trump’s proposal to establish a strategic Bitcoin reserve. The proposal, detailed in Trump’s “Digital Assets Framework” policy released on Friday, lays out a comprehensive plan to position the United States as a global leader in the digital asset industry.
Key Highlights of Trump’s Digital Assets Framework
The framework provides a roadmap to:
- Foster growth in the digital asset sector.
- Establish clear compliance standards.
- Ensure well-defined rights for crypto holders and companies.
Michael Saylor, a longtime Bitcoin advocate, emphasized the importance of the U.S. taking the lead in the global digital economy. He wrote,
“By establishing a clear taxonomy, a legitimate rights-based framework, and practical compliance obligations, the United States can lead the global digital economy.”
Saylor argued that these measures could unlock trillions of dollars in wealth, empower millions of businesses, and reinforce the U.S. dollar as the cornerstone of the digital financial system.
A Vision for the Digital Economy
Saylor’s framework highlights the need for innovation and leadership in the digital asset space. While he is widely regarded as a Bitcoin maximalist, the proposed framework encompasses universal standards for all digital assets.
Key classifications include:
- Digital Commodities: Assets like Bitcoin.
- Digital Securities: Tokenized equity or debt.
- Digital Currencies: Fiat-backed digital money.
- Digital Tokens: Utility-based tokens.
Additionally, non-fungible tokens (NFTs) and tokens linked to physical assets (e.g., gold and oil) are distinctly categorized.
To foster trust and compliance, Saylor advocates for a robust rights-and-responsibilities framework, ensuring transparency and accountability for all participants in the digital ecosystem. He stressed,
“No one has the right to lie, cheat, or steal. All participants are civilly and criminally responsible for their actions.”
Making Token Issuance Affordable
Saylor proposes a cost-efficient approach to encourage token innovation:
- Limiting compliance costs for token issuance to 1% of a firm’s assets under management (AUM).
- Reducing annual maintenance costs to 10 basis points.
This approach could:
- Cut token issuance costs from $10–100 million to just $10–100 thousand.
- Shorten the timeline for launching new digital assets from years to mere minutes.
Growing the Stablecoin Market and Establishing a Bitcoin Reserve
A central part of Saylor’s vision is expanding the stablecoin market from $25 billion to $10 trillion, boosting demand for U.S. Treasuries and solidifying the dollar’s dominance as the global reserve digital currency.
Additionally, Saylor supports the establishment of a strategic Bitcoin reserve, a concept backed by lawmakers like Senator Cynthia Lummis and President-elect Trump.
Trump has reiterated his support for retaining the government’s 198,000 BTC seized through criminal activities. Saylor estimates that this policy, along with a strategic reserve, could generate wealth between $16 and $81 trillion, potentially eliminating the U.S. national debt of $36 trillion.
The Path Forward for the U.S. in Digital Assets
Saylor’s framework presents a compelling vision for the U.S. to lead the digital economy by fostering innovation, reducing costs, and creating a robust compliance structure. His call to action, combined with Trump’s policy, could pave the way for a new era of growth in the digital asset industry.
