Michael Saylor Supports Trump's Strategic Bitcoin Reserve in New Policy Proposal

MicroStrategy founder Michael Saylor has expressed strong support for President-elect Donald Trump's proposal to establish a strategic Bitcoin reserve fund. Detailed in the 'Digital Asset Framework' released on Friday, the proposal outlines a roadmap for the United States to promote growth in the digital asset space, establish clear compliance standards, and ensure defined rights for cryptocurrency holders and companies. Saylor said that the United States needs to lead the digital economy Saylor's framework emphasizes the importance of the United States leading the global digital economy through digital asset innovation. He wrote: "By establishing clear classification, a legal framework based on rights and actual compliance obligations, the United States can lead the global digital economy." He further stated that such measures could unlock trillions of dollars in assets, empower millions of businesses, and secure the position of the US dollar as the foundation of the digital financial system. As a long-time Bitcoin supporter, Saylor became famous in 2020 when MicroStrategy started buying a large amount of this cryptocurrency. The company primarily provides business intelligence software and currently holds an estimated 42.6 billion dollars worth of Bitcoin, making it the company with the largest asset holdings. While Saylor is widely considered a maximalist for Bitcoin, his framework extends beyond Bitcoin, proposing common standards for all digital assets. He proposes creating a comprehensive classification to categorize digital assets, including "digital commodities" like Bitcoin, "digital securities" like stocks or encrypted debt, "digital currency" supported by legal tender, and "digital tokens" providing utility. Non-fungible tokens (NFTs) and tokens linked to physical assets such as gold and oil are also classified separately.

Saylor's proposal calls for a strict framework of rights and responsibilities for issuing entities, exchanges, and other participants in the digital asset ecosystem. This framework will ensure transparency, compliance with local laws, and accountability. "No one has the right to lie, cheat, or steal. All participants must take civil and criminal responsibility for their actions," he emphasized. To encourage innovation, Saylor supports limiting compliance costs for token issuance to 1% of the assets managed by the company and reducing annual maintenance costs to no more than 10 basis points. He argues that this approach could significantly reduce the cost of issuing tokens, from $10-100 million to $10-100 thousand and shorten the launch time of new digital assets from a few minutes to a few years. Saylor proposes the developing Stablecoin market The focus of Saylor's vision is to position the US dollar as the 'global reserve digital currency'. He proposed to increase the stablecoin market's growth from the current $25 billion to $10 trillion, which will create significant demand for US Treasury bonds and ensure the dominance of the dollar. Saylor also supports the establishment of a strategic Bitcoin reserve fund, a policy endorsed by lawmakers like Senator Cynthia Lummis and President-elect Trump. Although Saylor did not specify the scale of the reserve, he believes it could generate an asset volume of $16 to $81 trillion, potentially eliminating the U.S.'s $36 trillion national debt. Trump has reaffirmed his commitment to holding onto the 198,000 BTC that the government has obtained through criminal seizures and has recently voiced support for Bitcoin reserves. DYOR! #Write2Win #Write&Earn $BTC {spot}(BTCUSDT)