The Network State Podcast #12 - Michael Saylor
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Jul 16, 2025 
Michael Saylor, Chairman and co-founder of MicroStrategy, dives deep into his pioneering Digital Assets Framework. He outlines how the U.S. can lead in digital assets by establishing clear classifications and legal structures. Saylor discusses the transformative potential of tokenizing traditional assets and the need for innovative, on-chain fundraising methods. He warns against overregulation stifling creativity and champions a streamlined approach to regulations that fosters a more accessible, tokenized economy for all.
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Clear Digital Asset Taxonomy
- Digital assets can be categorized into commodities, securities, currencies, tokens, NFTs, and asset-backed tokens (ABTs).
- Each category has distinct properties like issuer presence and backing, clarifying what kind of digital property it represents.
Bitcoin as a Digital Commodity
- Bitcoin exemplifies a digital commodity — a digital asset without an issuer.
- Creating similar assets requires no central control or major ownership, making them unique as network-based property.
Crypto Equities Example
- Michael Saylor gave the example of MicroStrategy stock trading 24/7 on crypto exchanges as a digital security.
- Tokenized securities could enable companies like Uber to distribute assets to stakeholders via blockchain.