Michael Saylor proposes the "Currency Spectrum" framework for digital assets, categorizing them as: Bitcoin as digital capital, STRC as digital credit, and stablecoins as digital currency.

Strategy founder Michael Saylor has published an article systematically elaborating on the "currency spectrum" concept for digital assets, categorizing digital assets into four tiers: Bitcoin as digital capital, STRC as digital credit, SR-strcUSX as digital currency, and USDT as digital currency substitute. On this spectrum, moving from left to right, volatility and return potential gradually decline, while stability and transaction utility rise progressively. Saylor defines Bitcoin as the ultimate store of value: highly volatile, high-energy, and a sound bearer asset. USDT, meanwhile, is the ultimate medium of exchange—stable and easy to transact. Digital credit and digital currency serve as bridges between capital and currency. Saylor further detailed the attributes of each tier: STRC, as digital credit, is semi-stable, offers high fixed yields, and has store-of-value features. SR-strcUSX, as a digital currency, combines the technology of digital currency substitutes and the economic characteristics of digital capital, integrating stability, yield, transaction utility, and store-of-value functions. In terms of ownership structure, Bitcoin is a bearer asset, while digital credit, digital currency, and digital currency substitutes are created and managed by digital financial firms, with their ownership layer being digital equity. Together, they form a complete digital financial stack. This framework extends Saylor’s long-standing strategic vision of building a "Bitcoin + digital financial tools" ecosystem, integrating various securitized products issued by Strategy into a unified theoretical narrative.