At the Bitcoin MENA conference, Strategy (MSTR) Executive Chairman Michael Saylor encouraged the Middle East to become the “Switzerland of the 21st century” by embracing bitcoin-backed banking, credit, and digital money products, calling it a $200 trillion opportunity.
Saylor outlined three key steps: a “big idea” for sovereign wealth funds to invest in bitcoin, a “bigger idea” to build banks that custody BTC and extend BTC-backed credit, and the “biggest idea” to launch digital money accounts backed by BTC credit instruments offering up to 8% yield without volatility. “You won’t draw a little bitcoin — you will pull billions, tens of billions, even trillions of dollars,” he said.
He cited strong U.S. regulatory support, noting top officials including the Vice President, Treasury Secretary, and SEC Chair consider bitcoin a strategic asset. Major banks such as BNY, Wells Fargo, Bank of America, Charles Schwab, JPMorgan, and Citi are now exploring BTC-related credit products.
Strategy holds more than 660,000 BTC and is issuing BTC-backed instruments, including perpetual preferred stocks and short-term notes with monthly dividends. “Digital capital creates digital credit, and digital credit creates digital money. That’s the killer app,” Saylor said, describing the foundation for a new financial system.
Share this content:
