Saylor pitches five-point digital asset rights framework to widen capital access
Michael Saylor, executive chairman of Strategy, proposed a five-part 'bill of digital rights' covering creation, issuance, custody, transfer, and use of digital assets. He said the framework could help 10 million new companies raise capital, noting that only about 400 of 40 million US businesses can access public markets. Saylor contrasted his one-page approach with the roughly 630-page CLARITY bill and linked token-based capital formation to AI-driven business growth.
At the Bitcoin Policy Institute’s Freedom Tech DC summit, Strategy’s Michael Saylor outlined a one-page “bill of digital rights.” It lists five permissions: creating, issuing, self-custodying, transferring, and using digital assets. He argued this could let 10 million new firms raise capital through tokens, compared with only about 400 of 40 million U.S. businesses that can tap public markets.
Saylor contrasted that approach with the roughly 630-page CLARITY bill, which he views as restriction-heavy. He also said banks should be allowed to custody Bitcoin and lend against it, but noted Basel’s 1,250% risk weight makes that costly. He mentioned self-custody and competitive stablecoin yields as stablecoin legislation moves through Congress.
If adopted, such a framework could affect entrepreneurs, small businesses, investors, banks, and regulators. Lower barriers to token-based fundraising may widen capital access beyond the few firms that reach public markets, while self-custody and bank Bitcoin services could shift how people hold and borrow against assets. Risks around investor protection, market stability, and regulatory clarity may also grow, so outcomes could depend on safeguards and implementation.