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Market Cap
24h Vol
11975
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ZyCrypto 2024-12-27 22:19:29

MicroStrategy’s Michael Saylor Pitches $280 Trillion Crypto Market Capitalization

MicroStrategy’s Michael Saylor Pitches $280 Trillion Crypto Market Capitalization

MicroStrategy’s Michael Saylor has proposed a new framework for digital asset implementation in the United States. This will usher in new growth, with surging adoption tapping an all-time high. Recent activities in the bull cycle have led to uphill projections, although price corrections threaten momentum. In a new document, Saylor rolled out a taxonomy and proposed rights and responsibilities for participants in the crypto space. Notably, this boils down to ramping up activity in the United States and becoming a leader in space. In the run-up to November polls, President-elect Donald Trump restated his stance on the U.S. becoming a global leader in blockchain, Bitcoin, and artificial intelligence. A New All-Time Market Cap? According to the document, US participation in the crypto market will strengthen its position and lead to fresh capital inflow. Specifically, the total digital capital market is estimated to soar from $2 trillion to $280 trillion, with US investors dominating the scene. Saylor asserted that this would strengthen the dollar and reduce the national debt. Following Donald Trump’s win, institutional investors recorded massive inflows, taking the market cap above $3 trillion. This pushed the price of Bitcoin above $90K and eventually tapped $107K as buying intensified. Although the market faced slight sell pressures, traders looked to pro-market regulations as Republicans control both houses of Congress. Inflows are expected to drive global adoption, taking the market cap to an all-time high. The main instrument for the upswing is a Bitcoin strategic reserve. Tipped by most stakeholders, it is expected to attract bulls and help the county lower its debt. US Senator Cynthia Lummis proposed a bill that will see the country acquire 1 million BTC per year to be held for at least 20 years. Lummis proposes selling gold reserves to fund Bitcoin purchases. Saylor also noted that digital asset growth without Bitcoin is expected to notch inflows. A Path To Clear Rules Although sentiments have largely flipped positive following the advancement of pro-crypto bills, much effort is still required to bring the US into line with other jurisdictions. Per the document, Saylor seeks a clear framework for issuers, owners, and crypto exchanges to avoid the plethora of lawsuits previously recorded. “ Path to Legitimacy: Establish a global, real-time, and uninterrupted process for issuing, trading, and owning digital assets by individuals, corporations, and machines. Issuers: Rights: The right to create and issue digital assets. Responsibilities: Ensure fair disclosure and ethical behavior. Exchanges: Rights: The right to custody, trade, and transfer assets between clients and other exchanges. Responsibilities: Publish asset disclosures, protect client assets, and avoid conflicts of interest,” the document reads.

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