Michael Saylor Unveils Bitcoin-Powered Digital Credit, Names Solana and Ethereum as Key Rails

TLDR

• Saylor backs Bitcoin credit, taps Solana and Ethereum rails

• Bitcoin-based digital credit model names SOL and ETH

• Saylor positions SOL and ETH as Bitcoin credit rails

Michael Saylor introduced a Bitcoin-backed digital credit model at Strategy World 2026 and outlined how it will scale. He positioned Bitcoin as the capital base and identified Solana and Ethereum as distribution rails. Michael Saylor said the framework converts Bitcoin volatility into structured yield products for broader market access.

Solana Gains Attention as a Distribution Rail

Michael Saylor placed Solana within his framework as a programmable rail for Bitcoin-based credit products. He clarified that Bitcoin remains the capital foundation, while Solana supports distribution and settlement. This structure separates asset backing from transaction infrastructure and expands reach.

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He described digital credit as tokenized and modular across exchanges, brokerages, and blockchain networks. In that context, he included Solana alongside major stock exchanges and crypto platforms. Michael Saylor emphasized functionality and speed rather than speculation or price targets.

Following his remarks, Solana rose more than 13 percent within 24 hours. Its market capitalization approached $50 billion as trading activity increased. Market participants interpreted the comments as validation of Solana’s infrastructure role.

Ethereum Positioned as Institutional Infrastructure

Michael Saylor named Ethereum as a key rail for programmable credit issuance. He framed Ethereum as part of a broader settlement layer for tokenized financial instruments. The blockchain becomes a conduit rather than the underlying store of value.

He explained that issuers can adjust payout frequency, volatility exposure, and liquidity parameters directly within tokenized credit instruments. Ethereum supports that flexibility through smart contracts and established decentralized finance frameworks. Michael Saylor connected this structure to expanding institutional experimentation with tokenized assets.

Ethereum recorded renewed buying interest after the keynote. Traders responded to the inclusion as recognition of its infrastructure capacity. Michael Saylor maintained that Bitcoin remains the sole capital reserve within his proposed structure.

Bitcoin as Capital Base and STRC as Yield Product

Michael Saylor defined Strategy’s core function as converting Bitcoin holdings into structured credit products. He described STRC preferred stock as a variable preferred credit instrument backed by Bitcoin collateral. The product aims to reduce volatility exposure while preserving yield potential.

During a prior 45 percent Bitcoin drawdown, STRC retained its full value and paid 4.5 percent dividends. Michael Saylor highlighted this performance to demonstrate downside protection. He contrasted those returns with traditional bond spreads in current markets.

He referenced investment-grade bond spreads near 78 basis points and high-yield debt near 288 basis points. Michael Saylor argued that if Bitcoin compounds at 30 percent annually, digital credit can outperform those benchmarks. He also outlined internal metrics including BTC rating, BTC risk, and implied credit spread to manage exposure.