Michael Saylor has released his vision of how the American economy can boost and flourish if digital assets are used to the fullest. In his latest post titled “Digital Asset Framework” Saylor emphasized that the creation of Bitcoin reserves will help with efficiency and innovation over friction and bureaucracy.
The MicroStrategy CEO Michael Saylor believes that this could generate between $16 and 81 trillion in wealth for the U.S. Treasury and offer a new means of offsetting national debt.
Saylor Stays In Favor Of Trump’s Bitcoin Reserve Plan
Michael Saylor, the founder of MicroStrategy, has stated that he is fully in favor of President-elect Donald Trump’s plan to create a strategic Bitcoin reserve.
Saylor’s support for the Bitcoin reserve plan stems from the vision that creating a Bitcoin reserve that can provide $16–81 trillion in revenue for the US Treasury will allow for the repayment of the country’s debt.
Additionally, Saylor believes that this can help grow digital assets (not only Bitcoin) from $1 trillion to $590 trillion, with the US leading the way. This will also see an increase in the value of digital currency markets from $25 billion to $10 trillion, which will increase demand for US Treasury bonds.
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Saylor Sees The USA Minting Billions From Digital Assets
Saylor lays the idea down in his “Digital Assets Framework” policy, providing a road map for the US to support the expansion of the digital asset sector, create precise compliance guidelines, and guarantee well-defined rights for businesses and holders of crypto assets.
He believes that the United States has the chance to unleash billions of dollars in value creation by igniting a capital markets revival fit for the twenty-first century.
For this, he thinks that the government needs to give issuers the ability to produce and distribute digital assets in a matter of hours or days as opposed to months or years.
Additionally, he suggests reducing the issuance cost from $10–100 million to $10–100,000. Also, 40 million enterprises should have access to capital markets (increased from the existing 4,000 public companies). Saylor also advocates giving mid-sized businesses, artists, celebrities, and small businesses the ability to raise money using tokenized assets.
Saylor Suggests New Classification of Digital Assets
Saylor also suggests that establishing new classifications for tokens, commodities, digital currencies, and even non-fungible tokens (NFTs) will boost investment, encourage innovation, and solidify America’s position as the world’s leading financial nation.
For this, he suggests that the government inculcates exponential gains in accessibility, quality, speed, and cost through innovation and free market competition.
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