Michael Saylor & NYDIG Launch Bitcoin-Backed Money Market Fund—Wall Street’s Newest Crypto Cash Grab

Bitcoin maximalist Michael Saylor—never one to miss a chance to institutionalize crypto—is teaming up with NYDIG to drop a Bitcoin-collateralized money market fund. Because what Wall Street really needed was another way to monetize volatility while pretending it's 'risk management.'

The Saylor-NYDIG play: Repackage Bitcoin's wild price swings as a 'yield-bearing' asset for the suit-and-tie crowd. Early movers get bragging rights. Latecomers get the prospectus fine print.

Why this matters: When the guy who bet his entire corporate treasury on BTC starts building financial infrastructure around it, the 'digital gold' narrative shifts from speculation to system integration. The SEC will hate this. Hedge funds will love it. Retail will probably misunderstand it.

The cynical take: Nothing accelerates mainstream adoption faster than giving institutional investors a way to earn interest while pretending they're not just gambling with extra steps.