Michael Saylor unveils his $81 trillion Bitcoin reserve plan for the US – DL News

After spending the last four years adding Bitcoin to MicroStrategy’s reserves and winning over $15 billion, Michael Saylor is calling on the United States to adopt Bitcoin as a strategic national asset.

He claims this could strengthen the dollar, tackle national debt and unlock trillions in economic value.

“Strategic digital asset policy can empower millions of businesses, drive growth and create trillions of dollars in value,” said Saylor.

His proposal includes categorizing assets like Bitcoin as “digital goods” and establishing clear rights and obligations for issuers, exchanges and owners.

The US is already ahead, holding more than 207,000 Bitcoin seized in cases like Silk Road – more Bitcoin than any other national government.

While Saylor doesn’t mention these holdings in his plan, he envisions a Bitcoin reserve creating $16 trillion to $81 trillion in assets for the U.S. Treasury to offset the national debt.

He also expects the digital asset market to grow to $280 trillion – more than 100 times its current size – but does not provide details on how he arrived at those figures.

Senator Cynthia Lummis has proposed a rough framework for a Bitcoin reserve, suggesting that the US Treasury buy 200,000 Bitcoin annually for five years until the reserve reaches one million tokens – about 5% of the total supply of Bitcoin.

Under their plan, these purchases would be funded by profits from bank deposits and Federal Reserve gold holdings, with the reserve maintained for at least 20 years.

Saylor also warned that inaction could leave the U.S. behind countries like China.

“The United States has an opportunity to spark a capital markets renaissance in the 21st century and unlock trillions of dollars in value creation,” he said.

Creators of the crypto market

• Bitcoin fell 3% to $96,160 in the last 24 hours.
• Ethereum fell 6.3% to $3,325.

What we read

Kyle Baird is DL News‘ Weekend Editor. Do you have a tip? Email [email protected].