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Strategy founder Michael Saylor presented a dollar-pegged stablecoin backed by Bitcoin as the next vision for digital money. Speaking at ParaFi’s investor day event, Saylor said Bitcoin is the lowest layer of digital capital, while digital credit such as Strategy preferred stock sits in the middle, and the next digital capital and credit product to emerge will be a stablecoin backed by Bitcoin that could offer a 6% to 8% annual yield.
Saylor had previously said digital credit structures need a mix of Bitcoin and cash, including dollars, to become robust. Strategy is said to hold enough cash to support dividends for around three years and six months.