Strategy's Michael Saylor says tokenization will let investors 'shop' for yield

Michael Saylor of Strategy told CNBC that tokenization of financial assets could reshape how credit and yield are priced, creating a “free market in credit formation” that lets asset owners “shop” for higher yields and better financing terms. He said tokenization could challenge banks and brokers by enabling faster settlement, 24/7 liquidity and broader retail access, increasing capital velocity and volatility. The story notes regulatory and legislative context: the Clarity Act is progressing through Congress to provide a legal framework for onchain real‑world assets, and the SEC earlier signaled tokenized securities are likely but still subject to securities laws. Crypto platforms such as Coinbase and Robinhood already offer tokenized stock trading to some customers. Saylor also reiterated a bullish view on bitcoin versus the S&P 500, framing tokenization as part of mainstreaming digital-asset infrastructure.