At the Bitcoin MENA conference, Strategy (MSTR) Executive Chairman Michael Saylor urged the Middle East to become the “Switzerland of the 21st century” by adopting bitcoin-backed banking, credit, and digital money products, describing it as a $200 trillion opportunity.
Saylor outlined three steps: a “big idea” for sovereign wealth funds to invest in bitcoin, a “bigger idea” to build banks that custody BTC and provide BTC-backed credit, and the “biggest idea” to create digital money accounts backed by BTC credit instruments offering up to 8% yield with no volatility. “You won’t draw a little bitcoin — you will pull billions, tens of billions, even trillions of dollars,” he said.
He noted strong U.S. regulatory support, with officials including the Vice President, Treasury Secretary, and SEC Chair recognizing bitcoin as a strategic asset. Major banks like BNY, Wells Fargo, Bank of America, Charles Schwab, JPMorgan, and Citi are now exploring BTC-backed credit products.
Strategy currently holds over 660,000 BTC and is issuing BTC-backed instruments, including perpetual preferred stocks and short-term notes with monthly dividends. “Digital capital creates digital credit, and digital credit creates digital money. That’s the killer app,” Saylor said, framing it as the foundation of a new financial system.
