# Digital Credit Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Digital Credit", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

‘Priced out’ — Metaplanet launches study on Bitcoin-backed digital credit

Metaplanet is exploring the launch of "Project NOVA," a Bitcoin-backed digital credit framework designed for small and mid-sized Japanese firms that face challenges accessing the country's traditional bond market. Partnering with Metaplanet Securities, stablecoin issuer JPYC, and tokenization firm Progmat, the initiative would use Metaplanet's Bitcoin holdings (currently 43,000 BTC) as collateral to create an open marketplace. This platform would allow companies to issue their own tokenized digital credit directly to investors, enabling potential 24/7 trading and daily interest settlements. The move aligns with Metaplanet's broader strategy to expand into digital credit and Bitcoin capital markets. While the concept, inspired by MicroStrategy's STRC instrument, has shown resilience in the market, the reception from Japanese regulators and the broader market remains uncertain. Following the announcement, Metaplanet's stock price rose 4%.

ambcrypto07/11 23:03

‘Priced out’ — Metaplanet launches study on Bitcoin-backed digital credit

ambcrypto07/11 23:03

Strategy approves Bitcoin monetization program under new capital framework

Strategy has approved a board-authorized Bitcoin monetization program under a new Digital Credit Capital Framework, formally outlining for the first time how it may sell portions of its Bitcoin holdings. The framework allows the company to monetize Bitcoin to build up to $1.25 billion in U.S. dollar reserves, fund dividend and interest payments, and repurchase preferred securities and common stock. Executive Chairman Michael Saylor described it as an evolution in capital strategy, enabling Bitcoin to support shareholder value while remaining the primary treasury asset. The announcement accompanied disclosures of a $2.55 billion cash reserve, authorization for $2 billion in buybacks, and an unchanged Bitcoin holding of 847,363 BTC.

ambcrypto06/29 14:40

Strategy approves Bitcoin monetization program under new capital framework

ambcrypto06/29 14:40

Saylor's Latest Long Read: Bitcoin is Not Money, It's Digital Capital, and Money is Built Upon It

Michael Saylor presents his "Digital Asset Stack" theory, positioning Bitcoin as the foundational layer of digital capital. He argues Bitcoin itself should remain unchanged—no staking, inflation, or protocol alterations. Instead, a five-layer financial architecture should be built atop it: Digital Capital (BTC), Digital Credit (e.g., yield instruments like STRC), Digital Currency (stable, yield-bearing instruments pegged to fiat), Digital Yield (leveraged/structured products), and Digital Equity (e.g., MSTR stock, absorbing residual volatility). Saylor asserts this stack transforms Bitcoin's high-volatility, high-energy capital into tailored products: stable currencies for payments/savings, yield instruments for income seekers, and equity for growth investors. This approach meets diverse needs—corporate treasuries, banks, retirees, emerging market users—without compromising Bitcoin's core properties (scarcity, decentralization). The "killer use case" is rebuilding global money, credit, and capital markets on Bitcoin, bridging the fiat world with a superior digital asset foundation. The system leverages traditional finance principles (risk layering, structured products) while using Bitcoin as the ultimate collateral. This expands Bitcoin's utility, drives adoption, and offers a better monetary experience: digital, yield-bearing, stable-value tools for everyday use.

marsbit06/16 07:57

Saylor's Latest Long Read: Bitcoin is Not Money, It's Digital Capital, and Money is Built Upon It

marsbit06/16 07:57

Michael Saylor: I Did Say I Would Sell Bitcoin, But It's to Buy More

Michael Saylor addresses recent controversy after MicroStrategy's announcement that it may sell Bitcoin to pay dividends on its STRC digital credit product. He clarifies that the company will never be a "net seller" of Bitcoin. The strategy involves selling STRC (secured by Bitcoin) to raise capital, which is then used to buy more Bitcoin. Bitcoin's capital appreciation (estimated at 30-40% annually) is expected to outpace the dividend yield (~11%), ensuring continuous net accumulation. Saylor explains this as leveraging Bitcoin's status as "digital capital" to create superior digital credit instruments. He emphasizes that MicroStrategy, a major issuer of preferred stock (STRC), will remain a net buyer of Bitcoin despite any sales for dividends, due to the larger scale of its purchasing activities. He also dismisses concerns about MicroStrategy's ability to move the highly liquid Bitcoin market and reiterates his unchanged thesis that Bitcoin is the foundational asset for digital credit and finance.

marsbit05/12 00:35

Michael Saylor: I Did Say I Would Sell Bitcoin, But It's to Buy More

marsbit05/12 00:35

Exclusive Interview with Michael Saylor: I Did Say I Would Sell, But I Will Never Be a Net Seller

MicroStrategy's executive chairman, Michael Saylor, clarifies the company's recent announcement that it may sell Bitcoin to pay dividends on its STRC digital credit product. He emphasizes this does not make MicroStrategy a net seller of Bitcoin. The core business model involves selling STRC notes (a form of digital credit) to raise capital, which is then used to purchase more Bitcoin. Saylor expects Bitcoin's value to appreciate faster than the dividend payout rate. Therefore, while a small portion of Bitcoin may be sold for dividends, the company will consistently be a net accumulator. For example, in April, the company raised $3.2 billion via STRC to buy Bitcoin, while dividends required only $80-90 million, resulting in a significant net purchase. Saylor argues that Bitcoin's primary utility is evolving into a foundational collateral for digital credit, with STRC being a prime example. He notes that STRC now constitutes a majority of the U.S. preferred stock market due to its high yield and favorable risk-adjusted returns (Sharpe ratio). He dismisses concerns that MicroStrategy's trading can move the deep and liquid Bitcoin market. Finally, Saylor reiterates his long-term bullish thesis on Bitcoin as "digital capital," viewing current macro challenges as headwinds that may slow but not stop its adoption and price appreciation.

Odaily星球日报05/11 05:34

Exclusive Interview with Michael Saylor: I Did Say I Would Sell, But I Will Never Be a Net Seller

Odaily星球日报05/11 05:34

The Most Short-Sell Targeted Company on Wall Street: How to Play 'Digital Credit' with Bitcoin?

Financial Times' Alphaville column reported that MicroStrategy holds the highest short interest (14% of market cap) among S&P 500 companies, ranking as Wall Street's most shorted stock. Despite crypto's mainstream adoption, critics like former Merrill Lynch executive Craig Coben argue that MicroStrategy’s business model—aggressively buying Bitcoin using raised capital and issuing high-yield perpetual preferred shares ("digital credit")—lacks sustainable cash flow and depends entirely on continuous financing and Bitcoin's perpetual appreciation. CEO Michael Saylor positions Bitcoin as "digital capital," the foundation for a broader monetary system including digital credit and currency. The company claims it can sustain this model unless Bitcoin falls below $8,000 for 4-5 years—a scenario that would cripple the entire crypto industry. While short-term liquidity isn’t imminently at risk, skeptics view MicroStrategy as an ideal hedge against Bitcoin downside. Saylor’s ambition to build a new monetary system using the very dollar he aims to disrupt illustrates the paradoxical nature of the strategy, which remains deeply tied to Bitcoin’s volatile price movements.

比推02/27 13:22

The Most Short-Sell Targeted Company on Wall Street: How to Play 'Digital Credit' with Bitcoin?

比推02/27 13:22

Saylor Names Solana And Ethereum As Future Of Digital Credit

In his keynote at Strategy World 2026, Michael Saylor outlined a vision where Bitcoin serves as the foundational capital base for digital credit products, with Solana and Ethereum acting as key distribution platforms. He explained that his company, MicroStrategy, is shifting from merely accumulating Bitcoin to converting it into structured credit products like its Stretch (STRC) offering. This approach aims to extract steady yield from Bitcoin’s volatility and deliver it as programmable financial instruments. Saylor emphasized that digital credit can be tokenized and distributed across various platforms—including traditional exchanges like NASDAQ and crypto networks like Solana and Ethereum. He argued that if Bitcoin appreciates significantly, it can back large volumes of investment-grade credit. Solana and Ethereum are positioned not as the reserve asset but as scalable rails for deploying tokenized credit, yield, and liquidity products to a broader market.

bitcoinist02/27 05:02

Saylor Names Solana And Ethereum As Future Of Digital Credit

bitcoinist02/27 05:02

Currency and Stock Barometer丨BitMine's ETH Holdings Show Paper Loss of $6.95 Billion, but Tom Lee Says Bitmine Has No Debt; Strategy Raises $7.4 Billion Through Digital Credit in 2025 (February 3)

Fed's decision to hold rates and Trump's nomination of Kevin Warsh as Fed Chair triggered a market-wide selloff, with BTC dropping below $76k and ETH under $2.2k. Major crypto stocks like BitMine and Strategy faced significant losses. BitMine reported a $6.95 billion unrealized loss on its ETH holdings, though Chairman Tom Lee emphasized the company has no debt and finds the market dip "highly attractive." Strategy raised $7.4 billion via digital credit tools in 2025 and added 855 BTC. Ark Invest continued accumulating crypto stocks like Circle and Bitmine during the downturn. Global public companies (excluding miners) now hold 974,140 BTC, worth $76.01 billion. TRON increased its treasury holdings by purchasing more TRX tokens.

marsbit02/03 11:11

Currency and Stock Barometer丨BitMine's ETH Holdings Show Paper Loss of $6.95 Billion, but Tom Lee Says Bitmine Has No Debt; Strategy Raises $7.4 Billion Through Digital Credit in 2025 (February 3)

marsbit02/03 11:11

Strategy Is Becoming Bitcoin’s Central Bank Proxy, Says Michael Saylor

Michael Saylor, Executive Chairman of MicroStrategy, claims the company is evolving into a "central bank of Bitcoin." He argues that its shift toward perpetual preferred equity and "digital credit" instruments is designed to fund continuous Bitcoin accumulation while eliminating refinancing risk. Saylor stated the firm has raised approximately $44 billion, mostly as equity rather than debt, and used it to acquire about $48 billion worth of Bitcoin. He described this process as funneling traditional capital into the crypto economy, positioning the company as a conduit between traditional finance and the Bitcoin network. By offering yield-bearing instruments backed by Bitcoin, such as its dollar-pegged currency, MicroStrategy aims to provide a credit system powered by digital capital, effectively acting as a central bank for Bitcoin. At the time of reporting, BTC price was $89,250.

bitcoinist01/24 03:32

Strategy Is Becoming Bitcoin’s Central Bank Proxy, Says Michael Saylor

bitcoinist01/24 03:32

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