Michael Saylor: Digital assets challenge TradFi in four markets at the same time, forming a whole new architecture

On 14 August, Michael Saylor, founder of Strategy, wrote that digital assets competed in four different markets, not a single market, but a new financial architecture that was comprehensively challenging the traditional financial system (TradFi). As follows: Digital capital BTC, which competes for wealth against stocks, real estate, gold and works of art. Digital credit STRC, which competes for income against bonds and private loans. Digital currency competes for savings against money market funds and national debt. Digital currency competes for payment against cash and bank deposits. Michael Saylor yesterday described the concept of "currency spectra" for digital assets, classifying them as: bitcoin = digital capital, STRC = digital credit, SR-strcUSX = digital currency, USDT = digital currency. In this spectrum, the potential for left-to-right volatility and return is gradually declining, and stability and transaction effectiveness are increasing. Saylor defines bitcoin as the ultimate value storage — a volatile, high-energy, robust bearer currency; USDT is the ultimate exchange medium — stable and easy to trade; and digital credit and currency creates a bridge between capital and currency。