MicroStrategy CEO Michael Saylor Pitched a Bitcoin Roadmap to the White House

Michael Saylor took his Bitcoin evangelism to the White House on Friday, presenting his roadmap to an $80 trillion digital asset strategy

The White House hosted its first-ever cryptocurrency summit on Friday, where officials discussed the Biden administration’s plan for digital assets. The summit brought together leading figures in the crypto industry, including Michael Saylor, CEO of MicroStrategy (NASDAQ:MSTR), known for his fervent advocacy for Bitcoin.

During the summit, Saylor presented his blueprint for a $81 trillion digital asset strategy to the administration. This proposal, which he had previously outlined in a blog post, aims to integrate Bitcoin into the US economic system, ultimately shifting the balance of economic power in favor of the US.

“The goal is to create a new architecture for the US financial system that integrates digital tokens, securities, and currencies into a single framework, with Bitcoin at the apex,” Saylor stated in his post.

His plan, which he calls "The Bitcoin Standard: A New Economic Strategy for the United States," is a direct response to President Donald Trump's executive order on Thursday, which converts $17 billion in seized Bitcoin holdings into a strategic reserve and bans federal agencies from selling these Bitcoins.

"From this day on, America will follow the rule that every Bitcoiner knows very well: never sell your Bitcoin," Trump said during the announcement in the White House's East Room.

Saylor's proposal, which he presented to White House officials on Friday, is designed to integrate Bitcoin into the US economic system.

"This strategy will help the US to bolster the dollar, reduce national debt, and establish economic dominance in the 21st century," Saylor added.

His vision includes programmatic government Bitcoin purchases, potentially securing up to 25% of the network by 2035. This vision, however, requires Bitcoin to reach astronomically high valuations.

To reach Saylor's $81 trillion projection, Bitcoin would need to surpass $15 million per coin, a valuation exponentially higher than today's prices. In December, Saylor predicted that in this scenario, the digital asset market would expand to $280 trillion, about 100 times its current size.

"The US has a chance to dominate cyberspace and own the future," Saylor said.

However, some investors expected more aggressive policy changes from the summit.

"We're expecting to see some pretty significant moves by the administration in the coming months to continue the integration of crypto into the US financial system," a crypto investor told DL News.

"We're particularly interested to see what the administration plans to do with stablecoins, as they're a key part of the crypto ecosystem and have the potential to revolutionize payments and financial services."

Despite the anticipation, the crypto industry is still in the early stages of development and faces many challenges ahead.

"But with the administration's focus on economic growth and technological innovation, we're confident that the US can become the global leader in the crypto economy," the investor added.

The summit comes as the Biden administration is facing pressure from both lawmakers and industry groups to create a comprehensive framework for regulating cryptocurrencies.

Earlier this year, the administration released a discussion paper on the potential economic impacts of cryptocurrencies, and officials have held several meetings with industry executives to gather feedback on policy proposals.

The crypto industry is rapidly evolving, and new use cases for digital assets are emerging constantly. As the industry continues to grow, it will be interesting to see how the Biden administration's crypto policy evolves.

"The administration is committed to working with Congress to create smart crypto regulation that protects consumers, promotes innovation, and keeps the US at the forefront of the global financial system," a White House official said.

"We're also focused on leveraging digital assets to advance US foreign policy and economic interests."

The summit is part of the Biden administration's broader efforts to promote technological innovation and economic growth.

"The president has set a clear vision for America's economic future: an economy that is strong, inclusive, and competitive in the 21st century," a White House official said.

"And he's brought together the best minds in government, industry, and academia to help him achieve that vision."

The summit was attended by officials from the Treasury Department, the Securities and Exchange Commission, and the Commodity Futures Trading Commission.

Also in attendance were executives from major financial institutions, technology companies, and crypto startups.

The Biden administration's crypto policy is still largely undefined, but the summit provided an opportunity for officials to provide more insight into their thinking on key issues.

The administration is expected to release a detailed crypto policy document in the coming months.

"We're at a pivotal moment in the history of the financial system," a Treasury official said during the summit.

"The rise of crypto is one of the most significant economic and technological trends of our time."

The official added that the administration is focused on harnessing the opportunities presented by crypto while also mitigating the risks.

"Our goal is to create