Michael Saylor: Bitcoin Enters ‘Digital Capital’ Era, Accelerating Institutionalization

Saylor's framing matters less as a prediction than as a sign of how Bitcoin's most visible advocates now position it: not as payments or a retail hedge, but as balance-sheet capital that belongs in institutional portfolios. That rhetorical shift tracks the deeper integration he describes, and it is largely a story about the entities doing the adopting rather than the asset itself. The open question is whether that institutional pull continues to shape Bitcoin's market structure and narrative, or whether it remains a claim ahead of the underlying flows.