We're witnessing the first new financial asset in 500 years. $300 trillion is about to migrate away from the old system. Most people think their bank deposits are dollars. They're IOUs backed by other IOUs. Your cash is just a claim on someone else's balance sheet. New money isn't created by producing value - it's created through debt issuance. Every government bond and bank loan creates more dollars out of thin air. That means the entire system rests on a foundation of debt. When that foundation is government treasuries, fiat currency, and real estate, you inherit all their risks: Inflation. Counterparty failure. Debasement… The capital itself is deteriorating while more credit is stacked on top of it. For 300 years, the world ran on gold-backed credit. Now we have something new. JP Morgan once said "Gold is money. Everything else is credit." But Michael Saylor updated it: "Bitcoin is money. Everything else is credit." There’s a reason for that: Bitcoin is digital capital. You can't teleport gold across the planet. You can't program gold to vibrate a million times per second on a computer. You can't audit gold holdings instantly. Bitcoin does all three - and Saylor predicts it will be 10x bigger than gold. This creates an entirely new category: Digital Credit. Companies like Strategy are issuing perpetual preferred instruments backed by Bitcoin holdings. They trade like money market funds but yield 10-12% instead of 4%. The difference is they rely on collateral that appreciates over time instead of deteriorating. That structure changes everything. It creates a four-step flywheel: - Company issues digital credit - Dollars raised buy more Bitcoin - Bitcoin strengthens balance sheet - Allows issuing even more credit Every cycle creates more dollars, takes more Bitcoin off the market, and drives up the value of what remains. This market is currently $20-30 billion per year. Wall Street Journal hasn't noticed. New York Times hasn't noticed. It's heading to $50 billion, then $100 billion, then $200 billion. When it hits a trillion dollars of credit, it still won't be 1% of global credit markets. Fixed income investors need to pay bills every month. They can't stomach 40% portfolio swings. Perpetual preferred strips away Bitcoin's volatility and converts the upside into credit instruments with steady returns. This is how you pull pension funds into Bitcoin without them even realizing what's happening. The global fixed income market is over $300 trillion. Even 1% migrating into digital credit puts $3 trillion into Bitcoin. 5% is $15 trillion. 10% is over $30 trillion - enough to replace the entire global financial system. Savings accounts pay ~4% while inflation runs at 7-8%. You're guaranteed to lose purchasing power by leaving money in the bank. Digital credit flips this by offering 9-11% yield on assets that are 5-10x overcollateralized. You don't even need to be a Bitcoin believer to benefit. Better yield + better collateral + better structure = inevitable migration. So how do you position yourself? There's an option for every investor profile: → If you’re a conservative fixed income investor: Consider STRC. Trades like a money market at $100, pays 10% yield. → If you’re balanced dividend investor: Look at STRK or STRF You get yield plus upside torque when Bitcoin rises in value. → If you’re an aggressive growth investor who wants pure upside: Buy the common stock of MSTR, MTPLF, and other treasury companies that capture the full flywheel effect. We spent 100 years building credit on top of debt, treasuries, and fiat currencies. For the first time in history, we can build credit on appreciating digital capital. This is the Trojan horse that will pull Wall Street, pension funds, and sovereign wealth into Bitcoin whether they know it or not. The upside only gets stronger from here.