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Bitcoin has won. Global consensus is that $BTC is digital capital. The four-year cycle is dead. Price is now driven by capital flows. Bank and digital credit will determine Bitcoin’s growth trajectory. The biggest risk is bad ideas driving iatrogenic protocol changes.
Michael Saylor retweeted
JUST IN: The world's largest derivatives exchange CME Group says Bitcoin primarily functions as a decentralized store of value 👀
"The asset is maturing along distinct economic, functional, and regulatory paths" 🚀
Michael Saylor retweeted
On Tuesday, Fidelity @DigitalAssets published a paper that called Digital Credit Preferred Stocks like $STRC and $SATS "The Newest Demand Catalyst in Bitcoin".
In this week's video, I walk through the paper and what it means to income investors and retirees...
Our goal is to grow Bitcoin per share. Here’s how Strategy puts Digital Capital, Digital Credit, and Digital Equity to work. $MSTR
For those who prefer to read, our $MSTR Investor Briefing covers Bitcoin per share, Digital Credit, and our capital structure. PDF: strategy.com/mstr/brief
Michael Saylor retweeted
Fresh numbers on enhanced digital credit yield. 🔍
$apyUSD 30D APY: 13.79%
Think $STRC makes its way back to par?
Implied yield with $apxUSD recovery: 14.73%
DeFi yield is good. Enhanced digital credit yield is even better. 🫡
ALT Bar chart, DeFi Yield Comparison, 2026-10-22. apyUSD 30-day APY 13.79%. Hypothetical implied yield with apxUSD recovery: 14.73%. 10Y U.S. Treasury 5.13%, sUSDe 4.83%, USDC on Aave v3 3.79%, sUSDS 3.80%. Yields are variable and not guaranteed.
Michael Saylor retweeted
A new source of BTC demand is emerging.
BTC-focused perpetual preferred stocks have accumulated more than 135,000 BTC in just over a year, despite representing only a fraction of the global fixed income market.
What could happen if adoption expands?
🔗 Read our latest research: go.fidelity.com/ernlPz
Michael Saylor retweeted
A new BTC demand driver is emerging.
Our latest research piece from analyst Zack Wainwright examines the rise of perpetual preferred stocks -- another transparent demand driver we can observe for BTC.
He puts their growth in the context of Bitcoin ETPs, examines why they may appeal in a world of expanding fiat and debt, and closes with a comparison to the Pyramids of Giza to illustrate the market's potential scale.
fidelitydigitalassets.com/re…
Michael Saylor retweeted
Digital Credit is Bitcoin, refined.
2026 YTD annualized volatility:
ASST + MSTR: 95%
Bitcoin: 45%
SATA + STRC: 24%
Same raw material.
Structured finance sends the volatility to the common equity and strips it out of Digital Credit:
