U.Today - Michael Saylor, a vocal Bitcoin evangelist and co-founder of the MicroStrategy giant, has published a post on the X social media platform, offering to readers’ attention his strategic digital asset policy that “can strengthen the U.S. dollar” and help America experience a large economic boost in the 21st century.
The document revealing details of that concept was published on Michael Saylor’s personal website.
Strategic Bitcoin and digital asset policy for US
The document published by Saylor is titled “Digital Assets Framework, Principles, and Opportunity (SO:FTCE11B) for the United States.”It suggests dividing digital assets into several groups, establishing legitimacy for them, setting up “rational compliance” as well as offering a vision of “Capital Markets Renaissance.”
As part of this concept, Saylor believes it is necessary to divide digital assets into several categories. That includes a “digital commodity,” i.e., assets without an issuer and backed by digital power, such as Bitcoin; a “digital security,” which is “An asset with an issuer, backed by a security (e.g., equity, debt, derivatives).”
Key fundamentals of Saylor's concept
Then goes a definition of a “digital token” (with utility being the main feature), a “digital NFT” and a “digital ABT,” which is “An asset with an issuer, backed by a physical asset (e.g., gold, oil, agricultural commodities).”The above-mentioned document also includes a section about the creation of a “robust framework of rights and responsibilities” targeted at asset issuers, exchanges and asset owners in order “to engage in digital asset markets with confidence.”
A key principle for implementing the concept and following it afterward says: “No one has the right to lie, cheat, or steal. All participants are civilly and criminally responsible for their actions.”
Saylor's MicroStrategy added to Nasdaq 100
As reported by U.Today, earlier this month, the MicroStrategy business intelligence firm entered the Nasdaq 100 index of companies not related to the finance industry. Nasdaq also has such giants on board as Tesla (NASDAQ:TSLA), Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN). Saylor’s company was able to make that remarkable achievement thanks to the rapid market capitalization growth gained due to using the Bitcoin strategy of accumulating this cryptocurrency.As of late, these accumulations have been made thanks to the debt raised by the company from shareholders who receive yields on their indirect Bitcoin investments in MicroStrategy.