Story Highlights
- Saylor urges the U.S. to dominate the global crypto industry.
- He proposes a Strategic Bitcoin Reserve to reduce national debt.
- His plan includes securing 5-25% of the Bitcoin network by 2035.
Michael Saylor, founder of Strategy, has suggested that the United States should take steps to dominate the global crypto industry. Mr. Saylor advocates for the government to purchase Bitcoin and create structured digital asset policies. He suggests that proper policies paired with leadership can boost economic power for businesses alongside debt reduction for the country. Through his analysis, he predicted the U.S. would generate economic benefits that range from $60 trillion to $100 trillion during the next ten years.
Saylor presented his crypto industry vision through a document called “A Digital Assets Strategy to Dominate the 21st Century Global Economy”. He recommended using a new digital assets classification system which would both minimize ambiguity and drive forward advancements. The classification system proposed by Saylor consists of four core categories: Digital Tokens, Digital Securities, Digital Currencies and Digital Commodities. He proposed a new framework to merge contemporary digital economy operations with classic financial institutions.
Saylor Urges U.S. to Secure 25% of Bitcoin Network by 2035
Saylor declared Bitcoin should establish its position as the dominant digital commodity that operates as a worldwide standard for protecting capital. The U.S. needs to establish ownership of 5-25% of Bitcoin network operations before 2035, according to his plan.
By establishing a Strategic Bitcoin Reserve, the United States would create trillions of dollars in value through which it could potentially reduce national debt. The strategic Bitcoin reserve is projected to deliver more than $10 trillion in annual funds by 2045 which will sustain continued economic development.
The achievement of digital finance dominance requires the government to remove all restrictive regulations surrounding crypto according to Saylor. He proclaimed crypto businesses needed to be freed from discriminatory tax regulations.
Further, he demanded that prominent financial institutions enable Bitcoin transaction processing as well as storage management services. Saylor emphasized the need for the government along with financial regulators to provide fair treatment to the entire crypto business sector.
Saylor delivered his proposal to President Donald Trump alongside other key officials at the White House Crypto Summit on March 7. The establishment of the U.S. as a global leader in digital assets required quick implementation according to his proposal. The proposed regulatory structure will enhance security measures and encourage economic development according to him. Further, he believes that it will help the U.S. lead the digital economy.
