Michael Saylor, Executive Chairman of Strategy (MSTR), stated that the Middle East could become “the Switzerland of the 21st century” by adopting bitcoin-backed banking, credit, and digital currency.
During his presentation at Bitcoin MENA, Saylor urged the region to capitalize on what he termed a $200 trillion opportunity by allowing banks to hold bitcoin, provide BTC-backed loans, and eventually introduce yield-generating digital money products.
“If you want to transform your country into the digital banking capital of the world … aiming to be the Switzerland of the 21st century, consider these three concepts: the significant, the greater, and the greatest,” he conveyed to the audience.
Saylor described a “significant idea” as having sovereign wealth funds invest in bitcoin. The “greater idea” involved establishing banks that hold bitcoin and offer credit based on it. The “greatest” idea was to set up digital money accounts that utilize BTC credit instruments, promising yields of up to 8% without volatility.
“You won’t just attract a small amount of bitcoin,” Saylor asserted. “You will effectively draw billions, tens of billions, hundreds of billions, and even trillions of dollars from those unfamiliar with bitcoin.”
Saylor argued that the U.S. currently leads the global regulatory shift toward bitcoin, noting broad support among government figures. “There is a strong consensus among leaders in the United States,” he stated. “Donald J. Trump has expressed a desire to make America the bitcoin superpower and the leader in digital assets.”
He elaborated that he has personally communicated with top officials, including the Vice President and the Secretary of the Treasury, all of whom recognize bitcoin as a strategic asset.
Saylor also mentioned that U.S. banks that previously shunned bitcoin are now actively engaging with it.
“All major banks in the United States have shifted from avoiding bitcoin last year to, in the last six months, having been approached by BNY Mellon, Wells Fargo, Bank of America, Charles Schwab, JPMorgan, and Citi,” he noted. “They are beginning to issue credit based on either Bitcoin or Bitcoin derivatives like IBIT.”
Strategy currently holds over 660,000 BTC and is rolling out various BTC-backed credit products, including perpetual preferred stocks and short-term notes that offer monthly dividends.
“We’re converting 120 or 240 months of duration into just one month,” he explained. “Pay me now.”
Saylor portrayed these developments as the groundwork for a new financial system. “Digital capital generates digital credit, while digital credit leads to digital money,” he remarked. “That’s the essential application.”
