Saylor: Financial Instruments Built on Bitcoin Don't Alter Its Identity

Michael Saylor claims that when banks and corporations introduce financial instruments based on Bitcoin, it doesn't change the identity of Bitcoin. According to him, the asset in itself stays unchanged, while the capital markets are evolving above it.

In an article titled 'Bitcoin, Digital Credit, and Digital Money,' Saylor argues that BTC occupies the lowest position of a five-layer financial stack. He describes it as the 'pristine, scarce, high-energy capital asset.'

Strategy, a company led by Saylor, has already implemented this concept in practice through its 'Digital Credit Capital Framework.' The framework consists of five components, including a USD Reserve policy and a BTC Monetization Program.