Michael Saylor: Bitcoin is evolving into global digital capital

Wu said it was learned that the founder of Strategy, Michael Saylor, published a long paper, The Bitcoin Reformation, claiming that bitcoin was further evolving from “point-to-point electronic cash” to a global “digital capital” and that its success did not require the disappearance of French currency, banks, government or traditional finance. Saylor argued that self-custody should be a right, not an obligation, and that “paper bitcoin” instruments, such as ETF, listed company shares, bonds, preferential shares and derivatives, are part of the future of the financialization of bitcoin, as long as the structure of the rights and collateral is transparent, and are more likely to be a reserve asset to support the equity, credit, currency and derivatives system。