Michael Saylor is willing to advise Trump on the crypto policy

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As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed the evolution of digital assets from their humble beginnings to their current status as a transformative force in the global economy. In light of Michael Saylor’s willingness to advise President-elect Donald Trump on cryptocurrency policy, I believe that he is not only fit for such a position but may prove to be an invaluable asset to the incoming administration.

Michael Saylor, co-founder and executive chairman of MicroStrategy Inc., has expressed his readiness to offer advice on cryptocurrency policy if a cryptocurrency advisory council is ever established under former President Donald Trump’s administration.

As a crypto investor, I shared my eagerness to offer guidance on digital asset policies during a recent interview on Bloomberg Television’s Open Interest show. If given the opportunity by President-elect Donald Trump, I stand ready to provide advice, either publicly or confidentially, should he seek it.

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. 

Michael Saylor views Bitcoin as a pinnacle achievement of human civilization, expressing great interest in acquiring more bitcoins. He likens Bitcoin to territories such as Manhattan or Alaska, which were acquired by early administrations, emphasizing that Bitcoin represents a form of cyberspace. Therefore, MicroStrategy seeks to accumulate large quantities of bitcoins. Saylor believes that owning as much of this “cyber-territory” as possible is essential for the U.S., mirroring Donald Trump’s statement on Truth Social: “We aim to have all remaining Bitcoin produced domestically in the USA!

less pressure for regulation, viewing crypto as a means to stimulate the U.S. economy, and promoting the use of digital finance for individuals to achieve their financial goals.

What Do We Know About the Crypto Advisory Council?

During a notable speech at the Nashville Cryptocurrency Conference in July 2024, Trump suggested establishing a Crypto Advisory Council. However, as we approach December, details regarding the council’s formation have remained largely unpublicized.

The roster of companies taking part is still uncertain, but there are indications that firms like Coinbase, Ripple Labs, Paradigm, and Andreessen Horowitz (a16z) are trying to establish connections with the incoming administration. Rumors suggest that a representative from a16z provided counsel to the Trump campaign during the election. On December 6th, Trump announced David O. Sacks, an entrepreneur and venture capitalist, as his “White House A.I., Crypto, and Digital Assets Advisor” on his Truth Social platform.

Prior to 2024, it’s fair to say that Trump wasn’t particularly fond of cryptocurrencies. In fact, during his tenure, he made several critical statements about them. He referred to Bitcoin as not being real money and asserted that the value of cryptocurrencies is largely imaginary or unsupported.

In contrast to earlier years, the 2024 Presidential campaign marked a significant shift in Donald Trump’s views on cryptocurrencies. He began accepting digital currency donations, attended a significant crypto conference in Nashville where he pledged to turn America into a global leader in cryptocurrency, and put forth several key proposals regarding cryptocurrency policy.

Beyond proposing tax reductions for U.S. cryptocurrency firms, suggesting Gary Gensler’s departure from the SEC, and planning a strategic Bitcoin reserve, Trump unveiled plans for an advisory body, with Elon Musk – a wealthy backer of his – holding a key role. This informal agency, known as The Department of Government Efficiency or DOGE (a nod to the well-known meme coin), could signal more cryptocurrency moves from Donald Trump.

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2024-12-21 02:12