MicroStrategy founder and chairman Michael Saylor submitted a detailed digital asset framework to the U.S. government last Friday, trying to convince the U.S. government to strengthen fiscal policy and make the United States a leader in the 21st century digital financial system.
The full proposal urges regulatory clarity, including defining what constitutes a digital asset, stakeholder rights and obligations, transparency, and measures to promote innovation.
One of the key goals of this so-called strategic digital asset policy is to create a Bitcoin reserve, which Taylor said has the potential to generate between $16 trillion and $81 trillion in wealth for the U.S. Treasury, thereby offsetting the soaring national debt.
Interestingly, U.S. Senator Cynthia Lummis, who proposed the Bitcoin Reserve Act, advocates for purchasing 1 million bitcoins over five years, expecting a value of $17 trillion in 20 years.
In addition, the framework proposed by Saylor suggests expanding the digital currency market from $25 billion to $10 trillion, and expanding the digital capital market from $2 trillion to $280 trillion.
The proposal also advocates for growing the market for digital assets other than bitcoin from $1 trillion to $590 trillion.
Taylor also supports increasing investor access to a variety of digital assets, including tokenized commodities, real estate, art, businesses, teams, collectibles, intellectual property, and trademarks.