Michael Saylor, co-founder and executive Chairman of MicroStrategy Inc., has expressed his readiness to offer guidance to President Trump regarding cryptocurrency policy once the crypto advisory council is established.
On the Dec. 18 episode of Bloomberg Television’s Open Interest, Saylor indicated his willingness to advise on digital assets policy for President-elect Donald Trump, either publicly or privately, if requested.
Before making his offer to advise Trump on cryptocurrency policy, Saylor mentioned that he had already met “with a lot of people” within the incoming administration but refrained from naming specific individuals or confirming whether he had met Trump himself.
Is Saylor Fit for a Position?
Since the 2020s, Michael Saylor has emerged as a prominent advocate and investor in Bitcoin. Demonstrating his commitment, Saylor has personally invested around one billion dollars in BTC. In 2020, he revealed on X (formerly Twitter) that he owns 17,732 bitcoins, which he acquired prior to MicroStrategy’s (MSTR) significant bitcoin purchases. According to YahooFinance, MicroStrategy currently holds approximately 440,000 BTC, representing nearly 2% of the total bitcoin supply. The company garnered attention when it was included in the Nasdaq 100 index around the time of the last bitcoin price peak.
Saylor refers to Bitcoin as a prime asset for humanity and has an unquenchable desire for bitcoins. He compares Bitcoin to historic territories like Manhattan or Alaska, acquired by early colonists, arguing that Bitcoin represents a form of cyberspace. This ideology drives MicroStrategy’s strategy to accumulate bitcoins in significant quantities, as Saylor believes it is essential for the United States to control as much of this “space” as possible. This sentiment echoes a statement by Donald Trump on the Truth Social platform: “We want all the remaining Bitcoin to be MADE IN THE USA!” reads his post.
Saylor has identified Trump as the most crypto-friendly Republican politician, suggesting a shared alignment with the President-elect’s views on Bitcoin. While not an explicit supporter of the GOP, in September, Saylor stated that he perceives Republicans as more progressive regarding cryptocurrency regulations. He highlighted a reduction in regulatory pressure, viewing cryptocurrency as a means to enhance the U.S. economy, and foster individual economic pursuits through digital finance as progressive traits of the Republican perspective on the crypto industry.
What Do We Know About the Crypto Advisory Council?
Trump announced the intention to form a cryptocurrency advisory council during his notable speech at a July 2024 cryptocurrency conference in Nashville. However, as of December, little information regarding the council’s development has been disclosed.
The list of participating companies remains unclear. Nonetheless, it has been reported that firms like Coinbase, Ripple Labs, Paradigm, and Andreessen Horowitz (a16z) are seeking collaboration with the incoming administration. It has been claimed that a representative from a16z previously advised Trump’s team during his presidential campaign. On December 6, Trump announced entrepreneur and venture capitalist David O. Sacks as the “White House A.I. and Crypto Czar” via a Truth Social post.
It is notable that prior to 2024, Trump had not shown much enthusiasm for cryptocurrencies. Previously, the President-elect made several critical remarks about crypto, calling Bitcoin “not money” and asserting that the value of cryptocurrencies was founded on “thin air.”
Despite this, the 2024 Presidential campaign witnessed a significant shift in Trump’s approach to cryptocurrency. He began accepting digital currency donations, attended a significant crypto conference in Nashville where he vowed to make America “the crypto capital of the world,” and proposed several critical changes regarding cryptocurrency policy.
In addition to advocating for tax cuts for U.S. cryptocurrency firms, the removal of Gary Gensler from the SEC, and the establishment of a strategic Bitcoin reserve, Trump suggested forming the advisory body, with a key role assigned to the wealthiest individual on the planet and his ardent supporter, Elon Musk. This unofficial entity is dubbed The Department of Government Efficiency, or DOGE, in reference to a well-known memecoin, reflecting a fondness of the Tesla CEO. It remains to be seen what further developments might emerge from Donald Trump’s crypto agenda.
