Michael Saylor, co-founder and president of business intelligence firm MicroStrategy, has unveiled a comprehensive crypto framework aimed at further integrating bitcoin and other digital assets in the American economy.
Shared via social media on Friday, Saylor's proposal comes at a time of growing institutional interest in cryptocurrencies and aims to position the United States as a leader in the 21st century digital economy.
bitcoin and Cryptocurrency Framework to Strengthen the US Dollar
Taylor <a target="_blank" href="https://x.com/saylor/status/1870183095611093220″ target=”_blank” rel=”noopener nofollow”>emphasize that a well-structured digital asset policy could significantly strengthen the US dollar, mitigate national debt, and empower millions of businesses. He believes that by establishing a clear and universally understood taxonomy of digital assets, the United States can foster innovation and create trillions of value.
Saylor's structure classifies digital assets into several key classes, including digital products like bitcoin, which are backed by their own digital power, and digital securities that represent ownership of stocks and derivatives.
Other categories include digital currencies pegged to fiat money, fungible digital tokens that offer specific utilities, unique non-fungible tokens (nfts), and digital assets pegged to physical commodities such as gold or oil.
To ensure the legitimacy of these assets, Saylor insists that a robust framework defining the rights and responsibilities of all market participants is essential.
This system aims to establish a trusted environment in which issuers have the right to create assets while ensuring fair disclosure, exchanges are responsible for safeguarding clients' assets and maintaining transparency, and owners are empowered to manage its assets in accordance with local laws.
Central to this framework is the fundamental principle that all participants must act ethically, with civil and criminal responsibility for their actions.
Transform digital markets and offset national debt
Saylor also advocates for a regulatory approach that prioritizes efficiency and innovation over “bureaucratic hurdles.” Proposes standardized disclosures and industry-led compliance measures that allow exchanges to assist in the collection and publication of data. By limiting compliance costs and simplifying the issuance process, it envisions rapid asset creation, which could reduce timelines from months to just days.
This empowerment of exchanges to facilitate integrated services for all market participants aims to improve the overall efficiency of digital assets. proceedingspromoting a competitive and innovative market.
Looking ahead, Saylor envisions a transformative opportunity for US capital markets and projects that a strategic digital asset policy could unlock trillions in value creation.
Potential benefits include rapid issuance of digital assets, which would dramatically reduce the time and cost involved, and expanding access to capital markets for millions of companies, democratizing investment opportunities.
Saylor also maintains that by establishing the US dollar as a global reserve digital currency, the nation could catalyze a massive expansion in digital currency markets, growing from $25 billion to an estimated $10 trillion.
Additionally, Michael Saylor predicts that the global digital capital market could rise from $2 trillion to $280 trillion, with American investors capturing a significant portion of this wealth.
By establishing a strategic reserve of bitcoin, Saylor believes the US Treasury could generate between $16 and $81 trillion in wealth, providing a viable avenue to offset the national debt.
At the time of writing, bitcoin is trading at $97,360, down 4% on the weekly period.
Featured image of DALL-E, chart from TradingView.com
