Our ambition should be to “enable 10 million new companies to raise capital,” Strategy’s executive chairman Michael Saylor wrote in an essay.
Michael Saylor, co-founder of Strategy, said that an age of digital assets and intelligence needs a “bill of digital rights,” rather than restrictions.
An age of AI can increase production, but it needs better money and capital markets to realize its potential, according to an essay that Saylor, executive chairman of world’s largest corporate Bitcoin holder, posted on X Saturday.
A useful framework for digital assets should establish five fundamental rights, or freedoms, Saylor wrote.
These rights include (1) the freedom to create new digital assets and (2) to issue them to the market to finance business and productivity. They also include (3) the right to hold them or choose a custodian, as well as (4) to transfer them, to move the assets among people, companies, wallets and service providers. Finally, (5) to use them, to spend, invest, earn income and borrow against digital assets.
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These rights should apply to both people and companies, Saylor wrote. “An asset’s value depends on what its owner can do with it. Restrict its usefulness, and you restrict its economic potential,” he said.
As digital intelligence will automate jobs and make many products obsolete, future prosperity will depend on our ability to create new businesses and opportunities at a faster pace, Saylor wrote, adding that “our ambition should be to enable 10 million new companies to raise capital.”
Cointelegraph reported on Monday that Strategy had resumed buying Bitcoin after a two-week pause, acquiring 950 Bitcoin (BTC) for $75.7 million at an average price of $79,670 per coin.
Digital dollars should be allowed to compete
This brought Strategy’s holdings to 846,000 BTC, acquired for about $63.8 billion at an average cost of $75,416 per coin. Bitcoin was trading at about $84,523 at the time of publication.
Saylor also wrote in his essay that “protecting existing business models while making it difficult to finance their successors leaves the economy poorly prepared for technological change.”
Therefore, digital dollars should be allowed to compete on yield and “move at the speed of light,” he said. Banks, financial technology companies and technology platforms should offer digital dollars through the devices and applications people already use.
“Where the law prevents it, the law should change,” Saylor added.
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