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Saylor floats US crypto framework with $81T Bitcoin reserve plan
2024-12-24 11:39:55

From cointelegraph by Martin Young

MicroStrategy founder Michael Saylor has proposed a Digital Assets Framework for the United States that includes establishing a Bitcoin reserve he claims could create as much as $81 trillion for the country’s Treasury.

“A strategic digital asset policy can strengthen the US dollar, neutralize the national debt, and position America as the global leader in the 21st-century digital economy,” Saylor said in a Dec. 21 X post.

Saylor’s crypto framework proposes establishing a strategic Bitcoin BTC$95,869 reserve “capable of creating $16 to $81 trillion in wealth for the US Treasury “to potentially offset national debt.”

Under Saylor, MicroStrategy has amassed over 439,000 BTC, currently worth well over $41 billion, which has sent the company’s stock price soaring this year alongside the cryptocurrency. He also tried to pitch Microsoft to buy Bitcoin, an idea that its shareholders killed.

Saylor’s proposal defines six distinct categories: digital commodities such as Bitcoin, digital securities, digital currencies, digital tokens, non-fungible tokens (NFTs), and asset-backed tokens.

The framework aims to establish clear roles for issuers, exchanges, and owners while emphasizing that no participant can “lie, cheat, or steal” and defining specific rights and responsibilities for each participant type.

It also provides a streamlined compliance approach and proposes compliance cost limits with a maximum of 1% of assets under management for token issuance and 0.1% annually for maintenance.

“Digital asset regulation must prioritize efficiency and innovation over friction and bureaucracy,” the proposal stated while advocating for industry-led compliance rather than direct regulatory oversight.

  Excerpt from Saylor’s Digital Assets Framework. Source: Michael Saylor

It also stated that the US has an opportunity to “catalyze a 21st-century capital markets renaissance, unleashing trillions of dollars in value creation.”