According to Cointelegraph, Michael Saylor, founder of Strategy, is urging governments to develop digital banking systems based on Bitcoin, which could provide high-yield accounts and low volatility, and have the potential to attract trillions of dollars in deposits.
At the Bitcoin MENA event held in Abu Dhabi, Michael Saylor stated that governments could use overly collateralized Bitcoin reserves and tokenized credit tools to create regulated digital banking accounts, which could offer a higher return on investment (ROI) than traditional deposits.
Michael Saylor pointed out that bank deposits in Japan, Europe, and Switzerland barely yield any return, while euro money market funds yield around 150 basis points, and interest rates in the U.S. money markets approach 400 basis points. He said this also explains why investors are turning to the corporate bond market, "if people weren't so bothered by bank accounts, the corporate bond market wouldn't even exist at all."
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