Michael Saylor, founder of MicroStrategy, has proposed the establishment of a strategic Bitcoin reserve, a move supported by President-elect Donald Trump.
Concept of Digital Assets
Saylor presented the 'Digital Assets Framework,' outlining strategies for fostering sector growth, establishing compliance standards, and protecting the rights of cryptocurrency holders and companies. He believes these measures will enhance economic prosperity, strengthen the US dollar's global dominance, and help address national debt.
Classification of Digital Assets
Saylor divides digital assets into four classes: Digital Commodities (assets with no issuer, like Bitcoin), Digital Securities (tokenized forms of equity or debt), Digital Currencies (fiat-backed tokens), and Digital Tokens (unique categories such as NFTs and physical asset-backed tokens).
Cost Reduction Proposals
The framework also introduces a 'rights and responsibilities' model for issuers, exchanges, and participants, emphasizing transparency, accountability, and compliance with local laws. Saylor advocates for reducing the costs of issuing and storing digital assets, proposing to cap compliance expenses at 1% of a firm’s assets, lowering the cost of issuing a token from millions to as little as $10,000.
The proposal for a strategic bitcoin reserve has already gained support from senators and could help address national debt issues.
