MicroStrategy founder Michael Saylor has expressed strong support for President-elect Donald Trump’s proposal to establish a strategic Bitcoin reserve.
Detailed in his “Digital Assets Framework” policy published Friday, the proposal outlines a roadmap for the United States to foster growth in the digital asset industry, establish clear compliance standards, and ensure defined rights for crypto asset holders and companies.
Saylor Says the U.S. Needs to Lead Digital Economy
Saylor’s framework noted the importance of the U.S. leading the global digital economy through innovation in digital assets.
“By establishing a clear taxonomy, a legitimate rights-based framework, and practical compliance obligations, the United States can lead the global digital economy,” he wrote.
He added that such measures could unlock trillions of dollars in wealth, empower millions of businesses, and secure the U.S. dollar’s status as the cornerstone of the digital financial system.
A long-time Bitcoin advocate, Saylor gained prominence in 2020 when MicroStrategy began acquiring significant amounts of the cryptocurrency.
The company, which primarily provides business intelligence software, now holds an estimated $42.6 billion in Bitcoin, making it the largest corporate holder of the asset.
While Saylor is widely regarded as a Bitcoin maximalist, his framework extends beyond Bitcoin, proposing universal standards for all digital assets.
He suggested creating a comprehensive taxonomy to classify digital assets, including “digital commodities” like Bitcoin, “digital securities” such as tokenized equity or debt, “digital currencies” backed by fiat, and “digital tokens” offering utility.
Non-fungible tokens (NFTs) and tokens linked to physical assets like gold and oil are also distinctly categorized.
MICHAEL SAYLOR: Dump all
US gold for 5M #Bitcoin—the trade is free. Demontize enemy gold reserves to zero while we take control of the World's Reserve Capital Network
pic.twitter.com/XpWhVtKeuF
— Swan (@Swan) December 7, 2024
Saylor’s proposal calls for a robust framework of rights and responsibilities for issuers, exchanges, and other participants in the digital asset ecosystem.
This framework would ensure transparency, compliance with local laws, and accountability.
“No one has the right to lie, cheat, or steal. All participants are civilly and criminally responsible for their actions,” he emphasized.
To encourage innovation, Saylor advocates limiting compliance costs for token issuance to 1% of a firm’s assets under management and reducing annual maintenance costs to no more than 10 basis points.
He argued this approach could significantly lower the cost of issuing tokens, from $10–100 million to $10–100 thousand, and reduce the timeline for launching new digital assets to minutes instead of years.
Saylor Proposes Growing Stablecoin Market
Central to Saylor’s vision is positioning the U.S. dollar as the “global reserve digital currency.”
He proposes growing the stablecoin market from its current $25 billion to $10 trillion, which would create substantial demand for U.S. Treasuries and secure the dollar’s dominance.
Saylor also supports the establishment of a strategic Bitcoin reserve, a policy backed by lawmakers like Senator Cynthia Lummis and President-elect Trump.
While Saylor did not specify the size of the reserve, he suggested it could create wealth ranging from $16 to $81 trillion, potentially erasing the U.S. national debt of $36 trillion.
Trump has reiterated his commitment to retaining the government’s 198,000 BTC acquired through criminal seizures and recently voiced support for a Bitcoin reserve.
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