- Saylor positions Bitcoin as digital capital and STRC as a volatility-managed income vehicle.
- Strategy targets up to $60T of the $300T global credit market with Bitcoin-backed digital credit.
- Solana serves as the execution layer for digital credit, while Bitcoin remains the base asset.
Michael Saylor used the stage at Strategy World in Las Vegas to outline what he described as a new architecture for capital markets, built on Bitcoin as a base asset and programmable networks such as Solana for execution.
Speaking during the Bitcoin for Corporations track at the annual conference held at Wynn Las Vegas, the Strategy executive chairman presented “digital credit” as a structured way to transform Bitcoin exposure into income-generating instruments while limiting direct volatility for certain investors.
During his keynote titled “Digital Credit,” Saylor characterized Bitcoin as “digital capital,” defining it as economic value stored digitally and transferable across borders over digital networks. He argued that Bitcoin’s portability differentiates it from traditional stores of value such as real estate or gold.
Strategy has tied that concept to its Nasdaq-listed perpetual preferred security, STRC. According to Saylor, the instrument is designed to convert Bitcoin-backed economic value into cash flow streams.
He said STRC aims to provide yield and liquidity levels above typical preferred equities while shielding holders from direct Bitcoin price swings. Volatility, he explained, is shifted to common equity, while preferred shareholders receive structured exposure.
Proceeds from STRC issuance are used to purchase additional Bitcoin. Strategy recently completed its 100th consecutive weekly Bitcoin acquisition and now holds more than 717,000 BTC. The company stated that increasing Bitcoin holdings raises Bitcoin per share for equity investors and may support further credit issuance as liquidity expands.
Saylor placed the initiative within the broader credit environment, citing estimates that the global credit market totals roughly $300 trillion and could double over the next decade. He said Bitcoin-backed digital credit instruments could capture 5% to 10% of that market, representing a potential $50 trillion to $60 trillion shift.
Institutional participation is emerging. Anchorage Digital, a federally chartered U.S. crypto bank, has disclosed holdings in STRC. Corporate entities, including Prevalon Energy, have also announced treasury allocations involving the instrument during the conference.
Saylor Describes Solana as an Execution Layer for Digital Credit
In a separate discussion, Saylor differentiated between base-layer capital and execution infrastructure. He said Bitcoin remains the foundational asset for long-term value preservation, while programmable digital credit will be deployed on Solana.
Saylor described digital credit as “digital capital refined,” adding that it reduces risk, compresses duration, converts currency, and extracts yield. He said such systems require high throughput and low transaction costs. Citing Solana’s network design and capacity, he identified it as suitable for scalable financial applications and token issuance.
Related: Strategy Chairman Saylor Says Quantum Threat to Bitcoin Is Decade Away
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