Michael Saylor Proposes 'Digital Bill of Rights'...Will a $100 Trillion Cryptocurrency Era Begin?

▲ Saylor and Bitcoin/ChatGPT generated image

Michael Saylor, Chairman of the Board of MicroStrategy (MSTR), the global company with the largest Bitcoin holdings, has urged the establishment of a 'Digital Bill of Rights' for virtual asset users and businesses, presenting a blueprint for a $100 trillion market growth.

According to crypto media outlet Coingape on September 27 (local time), Saylor announced a framework of five core rights to protect the digital asset ecosystem at the Washington D.C. Freedom Tech event hosted by the Bitcoin Policy Institute. He argued that the rights to create, issue, custody, transfer, and use virtual assets should be equally guaranteed to both individuals and businesses. He explained that individuals and businesses should be free to choose between self-custody (holding assets directly) and third-party custody through professional service providers, and that control and ownership of assets should not be infringed upon by states or institutions.

Saylor predicted that deregulation and capital raising through digital tokens would significantly lower the barrier to entry for innovative startups. He diagnosed that in a situation where artificial intelligence (AI) and automation are rapidly replacing existing jobs and industries, new companies must emerge at a faster pace than before to maintain prosperity. He emphasized the need to establish an institutional foundation that reduces complex legal procedures and enormous fees, enabling 10 million new companies to raise business funds through tokens.

Expanded integration with traditional finance was also presented as a key challenge. Saylor asserted that banks should be able to directly hold Bitcoin (BTC) as an asset and execute normal commercial loans using it as collateral. He specifically criticized the Basel regulations, which apply a 1,250% risk-weight to crypto exposures, as overly harsh and urged policymakers to reconsider them. He also added that an environment should be created where banks, fintech, and big tech companies can freely issue and compete with digital dollars, provided they transparently disclose returns and risk factors.

The proliferation of AI commerce was identified as the decisive catalyst for the cryptocurrency market to explode to a $100 trillion scale. Saylor analyzed that autonomous AI agents would require 24/7 digital wallets and programmable payment infrastructure. He assessed that with the simplification of capital formation, expanded bank access, activation of tokenized securities, and the integration of the AI economy, virtual assets would fully establish themselves as a core infrastructure of global finance.

[Article Key Summary]

-Michael Saylor proposed the establishment of a five-point Digital Bill of Rights guaranteeing the creation, issuance, custody, transfer, and use of virtual assets.

-He urged token-based capital raising for 10 million new businesses, Bitcoin-backed loans from banks, and relaxation of Basel regulations.

-He predicted that the market size would grow to $100 trillion, driven by the demand for on-chain payments from AI agents and asset tokenization.

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