Banks Embrace Bitcoin: Saylor Reveals Rapid Wall Street Shift

According to Michael Saylor, the past twelve months have witnessed a profound reversal in stance from some of the most influential names in finance. He specifically cited Citibank, BNY Mellon, Bank of America, PNC, JPMorgan, Wells Fargo, and Vanguard as institutions that have moved toward a more welcoming posture on crypto. This is not merely theoretical; Vanguard, for instance, has reportedly enabled its clients to trade ETF shares linked to Bitcoin and XRP directly on its platform. Saylor emphasized that internal plans are actively in motion at several of these firms to roll out foundational services, marking a definitive end to the era of blanket opposition.

The most tangible evidence of this integration, Saylor noted, is the rapid embrace of Bitcoin as loan collateral. He recalled earlier struggles to secure bank financing using Bitcoin, stating that lenders flipped their approach within roughly six months. “Eight of the top 10 US banks are now issuing credit backed by Bitcoin,” Saylor claimed, a statistic that underscores the velocity of this institutional about-face. This development transforms Bitcoin from a speculative asset into a recognized store of value that can unlock traditional financial liquidity, a critical step for broader adoption.

The next phase of this integration involves the rollout of dedicated custody services and structured credit products. Saylor highlighted Charles Schwab as a key example, revealing that the financial services giant is preparing to offer Bitcoin custody and extend credit lines against BTC holdings as soon as next year. Citibank is said to be moving in a similar strategic direction. These services address two primary barriers for institutional and high-net-worth clients: secure asset storage and the ability to leverage crypto holdings without triggering a taxable sale.

This trend builds on earlier experimentation within the sector. Goldman Sachs, for example, issued one of the first Bitcoin-backed loans in 2022. However, Saylor pointed to a significant external catalyst that has accelerated planning and product development beyond these early pilots: a friendlier regulatory and political climate. He specifically cited policy shifts under the administration of U.S. President Donald Trump as a factor encouraging banks to move decisively off the sidelines. Despite this momentum, Saylor acknowledged that banks still face considerable legal, operational, and risk-management hurdles before these services can be offered broadly to retail customers.

This banking revolution is unfolding against a dynamic macroeconomic backdrop. Traders and analysts are closely watching the Federal Open Market Committee, with the Federal Reserve widely expected to cut interest rates by 0.25%, bringing the target range to 3.5%–3.75%. Such a move typically boosts risk assets, including Bitcoin, by lowering the opportunity cost of holding non-yielding investments. However, market participants warn of potential volatility around the announcement, noting that early rallies can reverse quickly depending on the Fed’s forward guidance.

Bitcoin’s own price action presents a mixed technical picture. This week, the crypto fear and greed index hit a reading of 10, signaling extreme fear among investors, yet the price rebounded from around $86,700 to roughly $92,300. Analysts are eyeing key resistance near the $94,200 level, suggesting a clean breakout above it could open a path toward $103,000. Another observed divergence is Bitcoin’s lag behind the Nasdaq’s recovery, a dynamic that could work in either direction depending on broader market shifts. The convergence of institutional adoption, regulatory tailwinds, and accommodative monetary policy creates a potent mix for Bitcoin’s next chapter.