At a current keynote delivered on the MIT Bitcoin Expo, Phong Le, CEO of Strategy (NASDAQ: MSTR), made a daring case for Bitcoin as a core element of contemporary company treasury technique. With over 528,000 BTC on its steadiness sheet, Strategy has grow to be essentially the most seen—and arguably essentially the most profitable—public firm to undertake Bitcoin as a major reserve asset.
“We outperformed the entire Nasdaq, the entire S&P 500, the entire Mag Seven… and we outperformed Bitcoin,” Le informed the viewers.
Whereas Strategy Chairman Michael Saylor laid the philosophical basis for Bitcoin’s company use case beginning in 2020, Le’s keynote drove residence the executional and monetary outcomes. The speak, which was half problem and half case research, urged company leaders to query the whole lot from their training to their monetary assumptions—and to reimagine their steadiness sheet within the Bitcoin period.
Firms Aren’t Performing—And Bitcoin Affords a Approach Out
On Day 1 of the MIT Bitcoin Expo, Le opened with a breakdown of company America’s efficiency downside. Of the 35 million corporations within the U.S., solely the highest tier—primarily S&P 500 corporations—are assembly market expectations. The relaxation are stagnating. “Almost every other company is not performing,” Le mentioned.
He pointed the finger at entrenched monetary orthodoxy. MBA packages, elite consultancies, and Wall Road corporations proceed to show the identical playbook: optimize the earnings assertion, reinvest in conventional belongings, and persist with quarterly considering. The result’s systemic underperformance. “All they can do is the S&P 500,” he mentioned, noting even personal fairness, enterprise capital, and hedge funds hardly ever beat that benchmark.
Le’s thesis: it’s not an absence of expertise—it’s an absence of creativeness.
Strategy’s Bitcoin Playbook: From Money Drag to Digital Capital
What set Strategy aside, Le argued, was its determination to deal with the steadiness sheet as a strategic asset—somewhat than a passive one. Whereas most corporations park money in low-yield authorities bonds or commodities like gold, Strategy selected Bitcoin.
“Why, if you’re a company, wouldn’t you do the same thing? Make money off of your balance sheet. Makes sense.”
Le made the purpose that Bitcoin gives not simply return potential, however structural benefits: it trades 24/7, it isn’t topic to central financial institution coverage, and it supplies firms with on the spot international liquidity. Against this, conventional capital markets function “252 days a year, 6.5 hours a day—19% of the time.”
Strategy has embraced this absolutely, updating its Bitcoin reserves in actual time. “We show our results daily. In fact, we update them every fifteen seconds on our website,” Le mentioned.
Rethinking Accounting in a Bitcoin-Native World
One of many greatest challenges for firms adopting Bitcoin is the mismatch between conventional accounting guidelines and a 24/7 asset. Present requirements had been constructed for quarterly earnings and slow-moving monetary devices—not real-time, globally traded digital belongings.
As Phong Le put it: “Accounting policies update every five years, quinquennially. Accounting policies don’t work for Bitcoin.”
Beneath GAAP, Bitcoin is handled as an intangible asset—marked down when costs fall, however not adjusted upward once they rise—making a distorted view of monetary well being.
To shut that hole, Strategy has adopted a extra clear method. “We show our results daily. In fact, we update them every fifteen seconds on our website,” Le mentioned. This real-time reporting displays the always-on nature of Bitcoin and alerts to the market that Strategy is taking part in by a special—and quicker—algorithm.
Relatively than look ahead to establishments to catch up, Strategy is setting the usual for a way the efficiency of Bitcoin treasury corporations ought to be measured.
Why MSTR Inventory Turned the Most Watched within the U.S. Market
Since adopting its Bitcoin treasury technique, MSTR inventory has grow to be “the most performant, the most volatile, the highest volume, and most interesting stock in the United States,” in line with Le. Its efficiency has persistently outpaced conventional benchmarks—not simply because Bitcoin appreciated, however as a result of Strategy leaned into its id as a Bitcoin-native public firm.
And it’s not alone. Le highlighted the rising checklist of corporations replicating the mannequin: Metaplanet, Semler Scientific, and KULR Know-how Group, all of which outperformed the S&P 500 and Bitcoin after adopting related treasury methods. “This is a replicable strategy,” Le mentioned. “Everyone else should be doing this.”
Breaking the Mould: A Corporate Name to Braveness
Le closed by difficult executives and buyers to query standard knowledge. Strategy’s success didn’t come from following the gang—it got here from rejecting it.
“It takes courage. It takes original thinking. It takes independent thinking. It takes bravery. It takes Bitcoin.”
As the primary public firm to show Bitcoin right into a cornerstone of its steadiness sheet, Strategy—below Michael Saylor’s imaginative and prescient and Phong Le’s management—has redefined what’s doable in company finance.
Or, as Le put it: “Bitcoin allows corporations to find freedom from the average.”
Disclaimer: This content material was written on behalf of Bitcoin For Firms. This text is meant solely for informational functions and shouldn’t be interpreted as an invite or solicitation to amass, buy, or subscribe for securities.
