Michael Saylor, founder of MicroStrategy and Bitcoin advocate, has presented a digital asset framework for the United States, which includes a proposal for a strategic reserve of Bitcoin valued between 16 and 81 trillion dollars. Saylor claims that this reserve could neutralize the national debt and consolidate the dollar's position as the dominant global currency.
The framework classifies digital assets into six categories, including digital products, digital securities, digital currencies, digital tokens, non-fungible tokens (NFTs), and asset-backed tokens. It proposes to limit compliance costs to 1% of assets under management and 0.1% annually for maintenance, focusing on minimizing friction and encouraging industry-led compliance.
The economic goals include expanding global digital capital markets from 2 trillion to 280 trillion dollars, reducing issuance costs from millions to thousands, and increasing market accessibility from 4,000 public companies to 40 million companies. Saylor aims to catalyze a renaissance of capital markets, unlocking trillions of dollars in value creation and positioning the US dollar as the global digital reserve currency.
The proposal has generated mixed reactions, with proponents considering it a visionary roadmap and critics dismissing it as impractical. Despite the criticism, MicroStrategy's Bitcoin strategy has been successful, accumulating over 439,000 BTC with a total portfolio gain of 54%.
Saylor's framework underscores the growing importance of digital assets in shaping global financial strategies, although it remains to be seen if it gains traction.
