Saylor Calls for Bill of Digital Rights to Unlock $1.6 Trillion in Unbanked Bitcoin
Michael Saylor, executive chairman of MicroStrategy, called on regulators to adopt a bill of digital rights at the Bitcoin Policy Institute's Freedom Tech DC summit. He argued that clear rules protecting digital rights are essential for the industry's growth and that restrictive legislation would hinder its development.
Saylor emphasized that America needs clear definitions of digital tokens, currencies, commodities, and securities. He also urged regulators to establish self-custody rights, allowing individuals and corporations to manage their own digital assets. This, he believes, will unlock the potential of digital currencies and enable the creation of a competitive market.
The executive chairman estimated that banks could create $100 billion in Bitcoin-backed credit within one year if they had clear regulatory rules. He also stated that most of the $1.6 trillion in unbanked Bitcoin remains outside exchange-traded funds like IBIT and FBTC, suggesting that significant bank participation could reshape the market.
Saylor connected digital rights to the rise of AI agents operating in financial markets, stating that they cannot access traditional banking services without digital assets. He emphasized that policymakers have a narrowing window to shape supportive rules before the transformation fully unfolds.