MicroStrategy CEO Michael Saylor has laid out a detailed plan that could revolutionize the U.S. economy and position the country as a global leader in the 21st-century digital economy.
Saylor, recognized as one of the most fervent defenders of Bitcoin and blockchain technology, has presented his strategy under the title “Digital Assets Framework, Principles, and Opportunity for the United States”.
This strategic framework, disclosed through its website and social media, highlights Bitcoin's potential for Strengthen the US dollar and consolidate the United States as a global benchmark in the cryptocurrency fieldSaylor argues that this cryptocurrency can not only empower millions of businesses, but also drive significant economic growth and generate trillions in value.
Saylor presents a clear plan to foster innovation
In her presentationSaylor outlined five strategic areas the U.S. government could pursue to integrate Bitcoin and digital assets into its financial system. These include:
- Asset Classification: Differentiate between the various existing digital assets to clarify their properties and classifications.
- Rights and duties: Establish rights and responsibilities for users of these digital assets, thus increasing the legitimacy of their operations.
- Compliance standards: Propose standards that promote technological evolution and the development of associated markets, prioritizing efficiency and innovation.
- Capital Market Renaissance: Show how cryptoassets can open up new opportunities for investors by creating tradable products.
- Global leadership: Present scenarios where the United States positions itself as a leader in the use of digital assets to address current economic problems.
The taxonomy of digital assets
Regarding the taxonomy of digital assets, Saylor indicated that the United States needs clarify the classification of different types of digital assets, including cryptocurrencies, to advance policy and foster innovation. He suggested that non-issuer digital assets backed by digital power such as Bitcoin be classified as “Digital Commodity”, while issuer assets backed by securities such as stocks and derivatives be classified as “Digital Security” and issuer assets backed by fiat currency such as stablecoins be classified as “Digital Currency”.
He also suggested that digital assets with an issuer that offer digital utility be classified as “Digital Tokens” and that non-fungible assets with an issuer that offer digital utility be classified as “Digital NFTs”. Finally, he highlighted that those digital assets with an issuer, backed by physical assets such as gold, oil and agricultural commodities, be classified as “Digital ABT”.
According to Saylor, this taxonomy will provide a solid foundation for regulators, businesses and consumers to understand and participate in the Bitcoin and digital asset ecosystem safely and efficiently.
A clear framework for market legitimacy and trust
For digital asset markets to be trustworthy and attractive, Saylor also stressed the importance of establishing a robust framework of rights and responsibilities. This framework would ensure that all participants, from issuers to owners, can operate with confidence. Thus, issuers would have the right to create and issue digital assets, but also the responsibility to ensure transparency and ethical behavior.
On the other hand, cryptocurrency exchanges would be allowed to hold custody, trade and transfer assets, as long as they published asset disclosures, protected clients' assets and avoided conflicts of interest. It also notes that digital asset owners would have the right to self-custody, trade and transfer, as long as they complied with applicable local laws.
The fundamental principle of this framework, according to Saylor, is that no one has the right to lie, cheat or steal. Rather, it provides a vision in which all participants are civilly and criminally responsible for their actions, with the aim of ensuring a fair and transparent market for all.
Practical compliance to empower innovation
Saylor also highlights the need for practical compliance that prioritizes efficiency and innovation over bureaucracy. He proposes defining standardized disclosures for each digital asset class, which would facilitate transparency and trust. He also proposes capping issuance costs to make the process of issuing digital assets more accessible and affordable. He also suggests removing regulators from the critical path of digital asset issuance, empowering exchanges to offer integrated services to issuers, owners, and other businesses.
A vision of a renaissance in capital markets
Saylor sees digital assets as an opportunity to catalyze a renaissance of 21st-century capital markets. In his plan, he outlines that it would allow issuers to create and issue digital assets in a matter of hours or days, rather than months or years, and would reduce the cost of issuing assets to ensure that access to capital markets is more affordable for a greater number of companies.
In his plan, Saylor also considers expanding access to capital markets to empower small businesses, artists, celebrities and mid-sized companies, who could raise capital through tokenized assets, opening up new opportunities for financing and growth.
The United States faces an opportunity for global leadership in the digital economy
Finally, Saylor believes that implementing a strategic digital asset policy could strengthen the US dollar and neutralize national debt, positioning the United States as a global leader in the 25.000st century digital economy. To this end, his plan proposes increasing digital currency markets from $10 billion to $XNUMX trillion, to create massive demand for Treasury securities and reinforce the dollar's position as a global reserve currency.
He also said that global digital capital markets could expand to position the country at the forefront of this industry.
Last but not least, Saylor pointed out the creation of a Bitcoin Strategic Reserve, as an opportunity that could generate between $16 and $81 trillion in wealth for the U.S. Treasury, providing a path to offset the national debt and strengthen the economy.
A call to take advantage of the disruptive innovation of Bitcoin and digital assets
The plan laid out by Michael Saylor is a detailed roadmap for the United States to make the most of the Bitcoin and digital asset revolution. By establishing a clear taxonomy, a framework of legitimate rights and responsibilities, and practical enforcement, the country can lead crypto innovation and catalyze a renaissance of 21st-century capital markets.
Not only would this plan strengthen the U.S. dollar and neutralize the national debt, it would also empower millions of businesses, boost economic growth and create trillions in value, Saylor said, adding that the 21st-century digital economy is on the horizon and that the United States has the opportunity to become its undisputed leader.
Recently, Saylor compared Bitcoin to the iconic Manhattan real estate market, suggesting that just as properties in that area have historically been a solid investment, Bitcoin has the potential to offer exceptional returns over the long term. Furthermore, Saylor has proposed that the United States should consider selling its gold reserves to acquire Bitcoin, noting that this strategy could not only strengthen the dollar and reduce the national deficit, but also establish the country as a pioneer in the digital economy of the future.
