MicroStrategy founder Michael Saylor has expressed strong support for President-elect Donald Trump’s proposal to create a strategic Bitcoin reserve. This plan is part of the “Digital Assets Framework” policy published by Trump on Friday. The framework aims to foster growth in the U.S. digital asset industry, establish clear compliance standards, and protect the rights of crypto holders and companies.
Leading the Digital Economy
Saylor’s framework stresses the importance of the U.S. taking the lead in the global digital economy. He believes that by creating clear regulations, a rights-based framework, and practical compliance measures, the U.S. can become a global leader in digital assets. These steps could unlock trillions of dollars in wealth and empower businesses. Additionally, they would strengthen the U.S. dollar’s position as the cornerstone of the digital financial system.
Saylor’s Bitcoin Advocacy and Beyond
A longtime Bitcoin advocate, Saylor gained attention in 2020 when MicroStrategy began acquiring large amounts of Bitcoin. The company now holds an estimated $42.6 billion in Bitcoin, making it the largest corporate holder of the asset. While Saylor is a Bitcoin maximalist, his framework goes beyond Bitcoin. He proposes creating universal standards for all digital assets.
Classifying Digital Assets
Saylor suggests categorizing digital assets into different groups, including “digital commodities” like Bitcoin, “digital securities” such as tokenized equity or debt, and “digital currencies” backed by fiat. He also includes “digital tokens” offering utility. Additionally, non-fungible tokens (NFTs) and tokens linked to physical assets like gold and oil are clearly defined.
Rights and Responsibilities in the Digital Ecosystem
The framework calls for establishing clear rights and responsibilities for issuers, exchanges, and participants. This system would ensure transparency, compliance with local laws, and accountability. Saylor emphasized that no one should be allowed to deceive or commit fraud. All participants should be held accountable for their actions.
Reducing Compliance Costs for Innovation
Saylor advocates for reducing compliance costs to encourage innovation. He proposes limiting token issuance costs to just 1% of a firm’s assets under management. Additionally, he suggests capping annual maintenance costs at 10 basis points. These changes would significantly reduce the cost of issuing tokens—from $10–100 million to $10–100 thousand—and shorten the timeline for launching digital assets.
Vision for the U.S. Dollar as a Global Reserve
Saylor envisions positioning the U.S. dollar as the “global reserve digital currency.” He proposes growing the stablecoin market from $25 billion to $10 trillion. This expansion would create strong demand for U.S. Treasuries, further solidifying the dollar’s dominance.
Strategic Bitcoin Reserve and Potential National Debt Erasure
Saylor also supports the idea of a strategic Bitcoin reserve. This policy is backed by lawmakers such as Senator Cynthia Lummis and President-elect Trump. Though the reserve’s size has not been specified, Saylor believes it could generate wealth ranging from $16 to $81 trillion, potentially erasing the U.S. national debt, which currently stands at $36 trillion.
Trump has expressed his commitment to keeping the U.S. government’s 198,000 BTC, acquired through criminal seizures. He has also shown support for the creation of a Bitcoin reserve.
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