Saylor Calls for Digital Asset Rights and Stablecoin Competition

Michael Saylor, Strategy Chairman, has proposed five digital asset rights for individuals and companies to ensure they can create, issue, custody, transfer, and use them freely. He believes this is crucial for an economy centered on artificial intelligence (AI), as AI and automation will eliminate jobs and make existing products outdated.

According to Saylor, the current system restricts only about 400 well-known companies from raising funds in public markets, despite there being around 40,000,000 companies in the United States. He cites examples of BSTR and Twenty One, which had difficulty raising additional funds despite having billions of dollars in capital and legal manpower.

Saylor also criticized bank regulation, specifically the Basel framework, for treating digital assets as extremely high-risk assets with a 1,250% capital reserve requirement. He argued that this is unfair and that custodying customers' cryptocurrency, lending money against it as collateral, or betting on it using a bank's own capital are different activities.

Saylor believes banks' participation in the market will drive its growth, as only about $1.6 trillion worth of Bitcoin exists but most of it is not connected to the banking system. He also suggested allowing banks, fintech companies, and technology platforms to freely compete by issuing stablecoins and paying interest.