Michael Saylor proposed a five-layer architecture for the modern digital asset stack.

On June 16th, CoinFeed reported that Strategy founder Michael Saylor published a lengthy article on the X platform, proposing a five-layer architecture for the modern digital asset stack: Digital Capital (BTC), Digital Credit (a yield-generating instrument backed by Bitcoin), Digital Currency (a yield-generating instrument with stable value), Digital Returns (leveraged or structured products), and Digital Equity (MSTR-style residual equity). Saylor argues that Bitcoin itself does not need to generate returns, nor does it require staking, inflation, or protocol changes; returns should be created on top of Bitcoin through capital structures. Digital Currency combines digital credit with fiat currency cash equivalents to form a stable, daily liquid, and yield-generating instrument with a target return rate of 6-8%. This architecture does not change the underlying structure of Bitcoin or weaken its core principles; rather, it expands Bitcoin from a single asset into a global financial infrastructure through capital markets.