MicroStrategy Inc. co-founder and executive Chairman Michael Saylor has expressed his readiness to advise President-elect Donald Trump on cryptocurrency policy as plans for a new crypto advisory council emerge.
In a recent appearance on a financial news program, Saylor indicated that he would be willing to offer guidance on digital asset policy, either publicly or privately, should he be approached by Trump. He noted that he has already engaged with several individuals in the incoming administration but refrained from disclosing specific names or confirming any direct meetings with Trump.
Michael Saylor: A Controversial Figure in Crypto
Since the onset of the 2020s, Saylor has become a prominent advocate for Bitcoin, committing substantial personal investment in the cryptocurrency sector, including approximately one billion dollars in Bitcoin purchases. He publicly revealed ownership of 17,732 bitcoins prior to MicroStrategy’s notable investments, with the company now reportedly holding around 440,000 BTC, amounting to nearly 2% of the total Bitcoin supply. MicroStrategy gained significant attention when it was recently added to the Nasdaq 100 index.
Saylor has passionately described Bitcoin as a vital asset for humanity, likening its value to prime real estate in cyberspace. He emphasizes the importance of acquiring Bitcoin en masse for the United States, aligning with Trump’s vision to encourage domestic Bitcoin production.
Saylor has identified Trump as the most cryptocurrency-friendly Republican candidate, sharing concerns over regulatory pressures and advocating for cryptocurrency as a vehicle for economic growth. He has proposed that the Republican party is emerging as a more progressive force in the realm of cryptocurrency regulation.
The Future of the Crypto Advisory Council
During a notable speech at a Nashville cryptocurrency conference, Trump proposed the formation of a crypto advisory council. However, detailed information about the council’s development remains scarce as the year comes to a close.
The composition of the advisory council is yet to be disclosed, although companies with significant stakes in the crypto industry have shown interest in collaborating with the incoming administration. Recently, Trump introduced entrepreneur David O. Sacks as the “White House A.I. and Crypto Czar,” marking a strategic move towards integrating cryptocurrency expertise into his policy framework.
Historically, Trump has had a skeptical view of cryptocurrency, previously denouncing Bitcoin as “not money” and labeling its value as illusory. However, his stance appears to be evolving, as he now accepts cryptocurrency donations and actively engages with the crypto community. As part of his campaign promises, Trump has proposed tax incentives for U.S. cryptocurrency firms, a reorganization of regulatory leadership, and the establishment of a strategic Bitcoin reserve.
With an ambitious agenda ahead, the landscape of U.S. cryptocurrency policy may see significant shifts under the upcoming administration.
