Michael Saylor: U.S. Bitcoin reserves are expected to offset $81 trillion in debt, and opportunities for micro-strategies to be included in the S&P 500 will increase

Here is the English translation: The co-founder and executive chairman of MicroStrategy, the US-listed company that is the largest corporate holder of Bitcoin, Michael Saylor, released a proposal for a digital asset framework for the US on the 21st, which includes a plan to establish a Bitcoin reserve, emphasizing that this move could bring the US Treasury up to $81 trillion in wealth: "A strategic digital asset policy can strengthen the position of the US dollar, offset the national debt, and make the US the global leader of the 21st century digital economy, supporting millions of businesses, driving growth, and creating trillions of dollars in value." According to this digital asset framework, Michael Saylor suggests establishing a strategic Bitcoin reserve, stating that this move could create $16 to $81 trillion in wealth for the US Treasury and provide a viable path to offset the national debt. The digital asset framework also categorizes digital assets into six main types: 1. Digital Commodities (e.g. Bitcoin) 2. Digital Securities 3. Digital Currencies 4. Digital Tokens 5. Non-Fungible Tokens (NFTs) 6. Asset-Backed Tokens This framework aims to set clear roles for issuers, exchanges, and holders, defining the rights and responsibilities of each type of participant, while emphasizing that no participant is allowed to "lie, cheat, or steal." The framework also proposes a streamlined compliance approach, limiting compliance costs, with token issuance compliance costs capped at 1% of managed assets and annual maintenance costs at 0.1%. Michael Saylor emphasizes that digital asset regulation must prioritize efficiency and innovation over friction and bureaucracy, advocating for industry-led compliance rather than direct regulation by authorities. He believes the US has an opportunity to catalyze the revival of the 21st century capital markets, unlocking trillions of dollars in value creation potential. The framework's goals include reducing token issuance costs from millions to thousands of dollars, expanding the market participation from 4,000 listed companies to 40 million businesses, and emphasizing rapid asset issuance, with the ultimate goal of helping the US dollar become the global digital reserve currency and seeking to expand the global digital capital market from $2 trillion to $280 trillion, making US investors the primary beneficiaries. As the largest corporate holder of Bitcoin in the US, MicroStrategy has benefited from the strong Bitcoin rally this year, with its stock price surging over 400% year-to-date, successfully entering the Nasdaq-100 index. The market also expects MicroStrategy to be included in the S&P 500 index in the future. Wall Street brokerage Benchmark recently released a report stating that after the adoption of the new accounting standard by the Financial Accounting Standards Board (FASB) for companies holding Bitcoin, MicroStrategy will be able to immediately report positive earnings, and is expected to be included in the S&P 500 index by June 2025.