Wu Shuo has learned that Strategy founder Michael Saylor has recently published a new post proposing a five-layer “Modern Digital Asset Stack” architecture based on Bitcoin. The architecture consists in sequence of: digital capital (BTC), digital credit (yield instruments such as STRC), digital currency (stable-yield instruments that combine with fiat liquidity), digital yield (leverage and structured products), and digital equity (stock assets such as MSTR that absorb volatility). Saylor said that this system does not need to change Bitcoin’s underlying protocol in order to transform BTC’s original volatility into financial products tailored to the needs of different types of investors—this is the key path for Bitcoin to move toward a global financial architecture.