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crypto.news 2024-12-20 22:59:05

Michael Saylor is willing to advise Trump on the crypto policy

MicroStrategy Inc. co-founder and executive Chairman Michael Saylor says he is willing to advise Trump on cryptocurrency policy when the crypto advisory council is set. During the Dec. 18 episode of the Open Interest show on Bloomberg Television, Saylor voiced his willingness to provide his advice on the digital assets policy to President-elect Donald Trump, either publicly or confidently, if he is asked to do so. Before expressing his willingness to advise Trump on the crypto policy, Saylor admitted that he had already met “with a lot of people” in the incoming administration but declined to specify the personalities nor mentioned if he already met Trump. Is Saylor fit for a position? Since the 2020s, Michael Saylor has been one of the key Bitcoin advocates and investors. Saylor is one who puts money where his mouth is, as he personally spent around one billion dollars on BTC. In 2020, Saylor took to X (Twitter at the time) to announce that he personally owns 17,732 bitcoins and that he acquired these coins before MicroStrategy (MSTR) made the first massive purchase of bitcoins. YahooFinance! reports that currently MicroStrategy owns around 440,000 BTC, which is close to a 2% share of the entire BTC supply. MicroStrategy made headlines on the eve of the latest BTC price peak when the company was included in the Nasdaq 100 index. Read more: MicroStrategy to join Nasdaq-100 Index following Bitcoin-driven stock surge Michael Saylor names Bitcoin an apex property of the human race and has an insatiable thirst for bitcoins. He compares Bitcoin to the territories like Manhattan or Alaska that were bought by the early colonist administration, specifying that Bitcoin is rather a kind of cyberspace. That’s why MicroStrategy aims to own bitcoins in bulk. According to Saylor, buying as much of this “space” as possible is crucial for the United States. This vision speaks to the statement posted by Donald Trump on the Truth Social platform. “We want all the remaining Bitcoin to be MADE IN THE USA!” the post reads . Saylor singled out Trump as the most crypto-friendly Republican politician. It seems that Saylor shares the President-elect’s views on Bitcoin. Although not an outright GOP supporter, in September, Saylor made claims that he sees Republicans as a more progressive party when it comes to cryptocurrency regulation. He names regulation pressure decrease, treating crypto as a tool to boost the U.S. economy, and encouraging individuals to pursue their economic aims using digital finance as progressive characteristics of the Republican approach to the crypto industry. What Do We Know About the Crypto Advisory Council? Trump proposed the creation of a crypto advisory council during his now famous speech at the Nashville cryptocurrency conference in July 2024. As of December, not much information about the preparations of this council has been made public. The participating companies’ lineup is not clear yet. However, it has been reported that such brands as Coinbase, Ripple Labs, Paradigm, and Andreessen Horowitz (a16z) are seeking interactions with the incoming administration. Allegedly, an a16z rep was involved in advising the Trump team during the presidential campaign. On December 6, Trump introduced entrepreneur and venture capitalist David O. Sacks as the “White House A.I. and Crypto Czar” via the Truth Social post. It’s worth saying that, to say the least, before 2024, Trump wasn’t an avid crypto enthusiast. In the past , the President-elect made a series of anti-crypto remarks, calling Bitcoin “not money” and saying that the value of cryptocurrencies is based on thin air. However, the 2024 Presidential campaign saw a drastic change in Trump’s stance on crypto. He started to take donations in digital currencies, visited a major crypto conference in Nashville where he promised to make America “a crypto capital of the world,” and made several important proposals concerning the cryptocurrency policy. On top of tax cuts for the U.S. cryptocurrency companies, the removal of Gary Gensler from the SEC, and the creation of the strategic Bitcoin reserve, Trump announced the creation of the advisory body with the leading position granted to the richest man on Earth and his passionate supporter Elon Musk. This unofficial agency is called The Department of Government Efficiency, or simply DOGE, a reference to a legendary memecoin, a notorious soft place of a Tesla CEO . Who knows just what else to expect from Donald Trump when he goes crypto? You might also like: Crypto firms vying for a place on Trump’s ‘Crypto Council’: report