Michael Taylorfounder and president of MicroStrategy Inc. (NASDAQ:MSTR), on Friday presented a detailed digital assets framework for the US government to strengthen fiscal policy and put the country at the forefront of the 21st century digital financial system.
What happened
The full proposal called for regulatory clarity, which would include defining what constitutes a digital asset, the rights and obligations of stakeholders, transparency, and initiatives to promote innovation.
Among the key objectives of the so-called “strategic digital asset policy” is the creation of a reserve of Bitcoin (CRYPTO: BTC), which would have the potential to generate between $16 and $81 trillion in wealth for the US Treasury, thereby neutralizing the growing national debt.
It is interesting to note that the senator Cynthia Lummis (Republican – Wyoming), who proposed a bill to establish a bitcoin reserve, defended the acquisition of 1 million BTC over five years, which is expected to be worth $17 trillion over 20 years.
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—empowering millions of businesses, driving growth, and creating trillions in value. https://t.co/7n7jQqPkf1
— Michael Saylor⚡️ (@saylor) December 20, 2024
Additionally, Saylor’s framework called for growing digital currency markets from $25 billion to $10 trillion, and digital capital markets from $2 trillion to $280 trillion.
The proposal also advocated growing the digital asset market, other than Bitcoin, from $1 trillion to $590 trillion.
Saylor also supported increasing investor access to a variety of digital assets, including real estate, art, businesses, equipment, collectibles, intellectual property, and tokenized trademarks.
You can also read: Donald Trump celebrates Bitcoin’s all-time high and mentions its impact on the markets
Why is it important
The proposal comes amid a renewed sense of optimism in Cryptocurrency circles, following the presidential victory of donald trump last month. The president-elect could reportedly consider creating a strategic bitcoin reserve by executive order.
Saylor previously said that Trump is serious about creating a strategic reserve of bitcoin and that it makes sense for the government to “buy it now and keep it for the future.”
Saylor also urged the incoming administration to take the lead in establishing a digital asset framework, clearly outlining the definitions of different entities and the responsibilities of participants.
Bitcoin price movement
At the time of writing, Bitcoin was trading at $93,904.08, down 3% over the past 24 hours, according to data from Benzinga Pro.
Image via Michael
You can also read: Spotify (SPOT) Shares Reach All-Time Highs: Executives Sell Shares Worth $1.25B
For more updates on this topic, activate Benzinga Spain notifications or follow us on our social networks: x and Facebook.
Receive exclusive information on market movements 30 minutes before other traders
Benzinga Pro’s 14-day free trial, available in English, gives you access to exclusive information so you can receive useful trading signals before millions of other traders. CLICK HERE to start your free trial.
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
