Michael Saylor

If you're a bank in Australia, you could just take that 11 and you could pass through eight, convert it to AUD.

And if you're a bank in Europe, you could offer 6% or 7% in euros.

So we basically create digital credit and we offer it to Deutsche Bank and JP Morgan and Commonwealth Bank and Morgan Stanley and BlackRock and Vanguard.

And if people, you know, if you think of it as just high powered money, what is high powered money?

It's a unit account, a store of value, a medium of exchange.

Well, stable coins prove that they were medium of exchange and unit of account.

But if we cripple their ability to pay a yield, they're not a store of value.

So I want something that's stable to the dollar, but I want it to appreciate, ideally tax deferred, more than 7%.

So, and this is basically, this is me drawing inspiration from the entire crypto industry, right?

The stable coins taught us something.

Bitcoin taught us something.

Digital exchanges taught us something.

What's the big idea?

The big idea is give people this...

digital money market type instrument.

Maybe we're not the money market.

Maybe we're the digital credit layer.

Bitcoin is a digital capital layer.

And the third layer is digital money.

And the banks and the financial advisors, they create the digital money.