Michael Saylor: Digital assets challenge TradFi in four markets simultaneously, forming a new architecture

Comparing news, Strategy founder Michael Saylor wrote that digital assets compete in four different markets. They are not a single market, but a new set of financial structures that are comprehensively challenging the traditional financial system (TradFi). The details are as follows:

The digital capital, BTC, competes for wealth, and opponents are stocks, real estate, gold, and art.

Digital credit STRC competes for revenue, and rivals are bonds and private equity credit.

Digital currencies compete for savings; their opponents are money market funds and treasury bonds.

Digital currencies compete for payments; their opponents are cash and bank deposits.

Michael Saylor published an article yesterday explaining the monetary spectrum concept of digital assets, categorizing digital assets as: Bitcoin = digital capital, STRC = digital credit, SR-STRCUSX = digital currency, and USDT = digital currency. On this spectrum, from left to right, volatility and return potential gradually declined, while stability and trading utility gradually increased. Saylor defines Bitcoin as the ultimate store of value — a volatile, high-energy, and healthy bearer currency; USDT is the ultimate medium of exchange — stable and easy to trade; and digital credit and digital currency build a bridge between capital and currency.