Michael Saylor, the co-founder and executive chairman of MicroStrategy, has publicly expressed his willingness to advise US President-elect Donald Trump on cryptocurrency policies. Here are the detailed aspects of this development:
- Statement and Context: During an interview on Bloomberg’s “Open Interest” on December 18, 2024, Saylor stated, “I’m always willing to provide a thought on constructive digital asset policy either in confidence or publicly. And if I’m asked to serve on some sort of Digital Assets Advisory Council, I probably would.” This statement underscores his readiness to contribute to the policy-making process around digital assets under the Trump administration.
- Engagement with the Administration: Saylor has confirmed meeting with numerous individuals in Trump’s incoming administration, though he did not elaborate further on these interactions. His involvement could potentially influence the direction of cryptocurrency policy in the US, given his deep understanding and investment in the sector.
- MicroStrategy’s Bitcoin Strategy: Under Saylor’s leadership, MicroStrategy has become one of the largest corporate holders of Bitcoin, with a current stash of approximately 439,000 BTC. This strategic pivot to Bitcoin investment has been pivotal in shaping Saylor’s public persona as a Bitcoin advocate. The company’s aggressive approach to Bitcoin accumulation, including recent plans to raise $42 billion for further acquisitions, highlights his commitment to digital assets.
- Policy Implications: Saylor’s potential advisory role could be significant given Trump’s campaign rhetoric on cryptocurrencies. Trump has promised to make the U.S. the “crypto capital of the planet,” including plans for a national Bitcoin reserve and more favorable regulations. Saylor’s expertise could help shape these policies, especially in areas like taxation, regulation, and integration of digital assets into the financial system.
- Digital Assets Advisory Council: There’s speculation that Trump might form a Digital Assets Advisory Council to guide his administration’s approach to cryptocurrency. Saylor’s readiness to participate in such a council indicates an intention to directly influence policy at a high level. This would align with the appointment of David Sacks as the first-ever “White House AI & Crypto Czar” to develop policies around AI and crypto.
- Market and Industry Response: Saylor’s involvement could signal to the market that the incoming administration might lean towards more pro-crypto policies, potentially affecting cryptocurrency markets positively. His influence could also foster greater dialogue between the crypto industry and policymakers, aiming to create a regulatory environment that supports innovation while addressing security and compliance concerns.
- Background and Motivation: Saylor’s interest in advising on cryptocurrency policy stems from his belief in Bitcoin’s potential as both an investment and a transformative financial technology. His advocacy has been consistent, aiming to educate and push for regulatory clarity that benefits the industry’s growth while protecting investors.
This development adds a layer of anticipation within the cryptocurrency community regarding how U.S. policy might evolve under Trump’s leadership, with Saylor potentially playing a crucial advisory role.
Michael Saylor says he is willing to advise US President-elect Trump on crypto.