Through appropriate digital asset frameworks, policies, and leadership, we can enrich the nation, empower businesses, dominate the global economy, and pay off national debt.
Compiled by: Huang Shiliang
After reading the article "A Digital Assets Strategy to Dominate the 21st Century Global Economy" published by the CEO of MicroStrategy following the White House discussion on crypto assets, I feel that if the U.S. truly implements this strategy, it could be a very powerful national strategy.
This article can be summarized as follows:
Utilize the power of the U.S. nation to speculate on cryptocurrencies, especially Bitcoin, to drive up the price of Bitcoin. (The article does not elaborate on the specific operations.)
Promote the global development of cryptocurrencies and blockchain to become the most important financial assets worldwide.
Completely transform the U.S. financial infrastructure around blockchain and cryptocurrencies, including financial regulatory policies, making the U.S. an absolute dominant force in the cryptocurrency field.
These actions seem very radical, but I believe this strategy can directly lead to the following situations.
- The hegemony of the U.S. dollar will be further strengthened.
The borderless nature of cryptocurrencies and blockchain means that once the dollar is seamlessly integrated into the blockchain, the fiat currencies of most small countries could be completely undermined by the dollar on the chain, which cannot be controlled by foreign exchange regulations, unless they are countries without even internet access.
If the U.S. truly holds a large amount of Bitcoin as national reserves and the cryptocurrency economy grows globally, the credibility of the dollar will be even stronger.
- A global unified financial capital market may form, creating an efficient global capital market.
Again, due to the borderless nature of blockchain, capital naturally prefers to gather and flow. The flow of global capital on the blockchain technology system will effectively break geopolitical barriers and the time constraints present in the current financial system.
- U.S. financial institutions and infrastructure (such as Wall Street, Goldman Sachs, and American banks) will ultimately control the global financial system. Small countries will no longer need to struggle with financial infrastructure.
Of course, this strategy may also bring some negatives, such as the pitfalls of moving from the real to the virtual economy.
It is also quite strange that the CEO of MicroStrategy only buys Bitcoin, while his strategy actually requires smart contract platforms like Ethereum.
Below is the AI translation of the CEO of MicroStrategy's article:
A Digital Assets Strategy to Dominate the 21st Century Global Economy
Introduction
Through appropriate digital asset frameworks, policies, and leadership, we can enrich the nation, empower businesses, dominate the global economy, and pay off national debt. In the next decade, the U.S. economy will benefit from this by $60 to $100 trillion and gain lasting and profound spiritual benefits.
Digital Assets: Creating a Reasonable Framework to Foster a Crypto Asset Renaissance
A clear and reasonable classification system for digital assets can eliminate unnecessary confusion, conflicts, and disputes while accelerating innovation, collaboration, and capital creation. A streamlined framework introduces four new categories of digital assets, perfectly integrating the traditional financial system (securities, commodities, and currencies) with the new digital economy. This framework must be elegant, intuitive, and resilient to accommodate billions of people and millions of companies.
Digital Token: Issued by an issuer, supported by digital utility, used for capital creation and innovation.
Digital Security: Issued by an issuer, supported by securities or commodities, used to enhance capital efficiency and promote globalization.
Digital Currency: Issued by an issuer, supported by currency, used for digital commerce and consolidating dollar hegemony.
Digital Commodity: Not issued by an issuer, supported by the power of digital networks, used for capital preservation and appreciation.
Vision: Unlocking the Power of the Crypto Industry to Drive Global Economic Growth
Millions of American businesses, artists, influencers, and institutions can quickly issue digital tokens through digital exchanges and rapidly enter capital markets.
Thousands of stocks, bonds, ETFs, and commodities can be issued in the form of digital securities, circulating around the clock on global computer networks.
U.S. government bonds and currency can circulate globally in the form of digital currency, further consolidating America's dominant position in international banking, credit, and currency markets.
Digital commodities (especially Bitcoin) will significantly attract global capital inflows as long-term assets, making the U.S. the primary beneficiary.
Principles: Revitalizing Capitalism and Property Rights to Become the World’s Banker
Issuers should have the right to create and issue assets without prior approval from regulatory agencies.
Exchanges should have the right to securely custody, trade, and transfer clients' digital assets without barriers.
Market participants and clients should be free to custody, trade, and transfer digital assets without regulatory interference or scrutiny.
Digital assets should flow freely on the internet without censorship or regulatory obstacles, achieving the fastest speed possible by computation.
The industry should proactively assume information disclosure and compliance obligations, allowing the market to operate naturally and efficiently.
By establishing excellent financial protocols, the U.S. will lead global digital finance development, attract global capital, and lay the foundation for the future economic system of digital finance.
Action Points: Ending Discrimination Against Crypto Assets and Promoting Bank Support
Regulatory agencies should not impose prior approval on asset issuers.
Exchanges should be allowed to custody, trade, and transfer digital assets and cooperate normally with traditional financial institutions like banks to avoid "de-banking."
Governments and traditional financial sectors should fully recognize the legitimacy and fairness of crypto assets.
Strategic Opportunities: Transforming and Dominating the U.S. Economy in the Next Twenty Years
Digital Tokens: Expand the $10 trillion U.S. corporate capital market, dominating global products and services.
Digital Securities: Add $20 trillion in scale to the U.S. global stock, bond, and derivatives markets, expanding financial market dominance.
Digital Currency: Drive $10 trillion growth in the U.S. Treasury market, reinforcing the hegemony of global banking, credit, and currency markets.
Digital Commodities (Bitcoin): Increase U.S. long-term capital assets by $20 trillion, solidifying the wealth foundation of the U.S. economy.
Strategic Bitcoin Reserves (SBR): A Strategic Wealth Reserve That Will Never Be Sold
By 2045, through strategic and planned daily accumulation, hold 5% of the supply on the Bitcoin network (accounting for 99% of the total Bitcoin network).
The SBR is expected to create $16 to $81 trillion in wealth for the U.S. Treasury by 2045, with the potential to pay off national debt.
Never sell Bitcoin; by 2045, each Bitcoin will become a long-term national asset with stable appreciation, ensuring prosperity for generations in the U.S.
Conclusion: Act Now to Ensure America's Absolute Leadership in the 21st Century Economy
Now is the time to act. Decision-makers, regulators, and industry leaders should quickly collaborate to establish a responsible regulatory framework for digital assets, ensuring market integrity, unlocking trillions of dollars in economic value, strengthening national security, and making the U.S. the global leader in the 21st-century digital economy.
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