Crypto: Saylor proposes a Digital Bill of Rights

Michael Saylor wants to place five freedoms at the heart of the crypto economy: create, issue, store, transfer and use digital assets. In an essay published on September 26, the executive chairman of Strategy defends a “digital bill of rights” rather than a new catalog of restrictions. Its ambition goes far: to enable 10 million new companies to raise capital thanks to digital markets.

Five rights for the crypto economy

The proposal starts with something simple. Individuals and businesses should be able to create digital assets, issue them, hold them themselves or with a custodian, transfer them freely and finally use them to pay, invest, generate income or borrow.

This vision extends the one that Saylor already defends around bitcoin. In June, he explained that Bitcoin should remain a digital capital without seeking to reproduce the performance of Ethereum. Financial products can then be built around this asset.

Saylor now extends this logic to all of crypto. For him, owning an asset is not enough if its owner can do almost nothing with it. The ability to freely move a token between different wallets or providers matters as much as simply holding it. Same logic for conservation: the user should be able to choose between self-custody and specialized service.

It adds two conditions: financial confidentiality and convenient access to markets. Not just for professional investors.

Saylor targets 10 million new businesses

The figure is probably the most ambitious in his text. Saylor wants 10 million new companies to be able to raise capital. He links this objective to artificial intelligence, which he believes should automate more tasks and make certain products or professions obsolete. If this transformation accelerates, new activities should be able to appear just as quickly.

The tokens then become a financing tool. Stocks and other tokenized securities occupy an important place in this reasoning. The United States has just opened this door further with a five-year experimental framework for certain tokenized American stocks.

Saylor wants to go further. An investor holding a tokenized security should be able to transfer it to another provider if the latter offers better credit, custody or yield conditions. He also defends the possibility of directly retaining this type of asset.

His reasoning relies heavily on competition. If a client can walk away with their assets, custodians must fight to keep them. Better service, lower costs, more attractive financing. On paper, it’s pretty straightforward.

Stablecoins and banks also enter the plan

Saylor doesn’t stop at tokens. He also wants to let “digital dollars” compete on yield. Banks, fintechs and large technology platforms could offer them directly in their applications. When the law blocks this type of use, its position is just as simple: the law must be changed.

The subject is far from being resolved in the United States. American banks have been seeking to limit the rewards paid around stablecoins for several months. They particularly fear a migration of part of the deposits towards these products. Tremplin.io recently returned to the refusal of banks to give in on the returns of stablecoins.

Saylor advocates exactly the opposite approach: more competition. He is also banking on banks to accelerate the adoption of bitcoin. More institutions offering custody and credit would give BTC holders more opportunities to use their capital without selling it. Its final objective gives the scale of the project. Saylor estimates that digital assets could form a $100 trillion market. This is not a guaranteed forecast, but the ambition that he sets for this new financial architecture. Five rights, 10 million companies and 100 trillion dollars. The program is not exactly modest.