During a recent presentation at the MIT Bitcoin Expo, Phong Le, the Chief Executive Officer of Strategy (NASDAQ: MSTR), made a compelling argument for Bitcoin as a fundamental element of contemporary corporate treasury frameworks. Holding over 528,000 BTC on its balance sheet, Strategy has emerged as the most prominent—and arguably the most accomplished—public firm to integrate Bitcoin as a primary reserve asset.
“We outperformed the entire Nasdaq, the entire S&P 500, the entire Mag Seven… and we surpassed Bitcoin,” Le remarked to the crowd.
Although Strategy Chairman Michael Saylor established the theoretical groundwork for Bitcoin’s corporate application beginning in 2020, Le’s presentation illustrated the operational and fiscal outcomes. The lecture, acting as both a challenge and a case study, encouraged corporate leaders to reevaluate everything from their educational backgrounds to their financial assumptions and to envision their balance sheets in the era of Bitcoin.
Corporations Struggle—And Bitcoin Provides an Escape
On Day 1 of the MIT Bitcoin Expo, Le commenced with an analysis of the performance issues faced by corporate America. Among the 35 million businesses in the U.S., only those in the upper echelon—mainly S&P 500 companies—are satisfying market expectations. The remainder are stagnant. “Nearly every other firm is underperforming,” Le stated.
He attributed this to deeply ingrained financial orthodoxy. MBA programs, prestigious consulting firms, and Wall Street companies persist in teaching the same strategies: maximize the income statement, reinvest in conventional assets, and adhere to quarterly perspectives. The outcome is prevalent underperformance. “All they can replicate is the S&P 500,” he observed, pointing out that even private equity, venture capital, and hedge funds seldom surpass that benchmark.
Le’s argument: it isn’t a deficit of talent—it’s a deficiency in creativity.
Strategy’s Bitcoin Manual: From Cash Drag to Digital Assets
What distinguished Strategy, Le contended, was its choice to view the balance sheet as a strategic tool—rather than a passive component. While the majority of companies allocate cash in low-return government bonds or commodities like gold, Strategy opted for Bitcoin.
“Why, if you’re a firm, wouldn’t you do the same? Generate income off of your balance sheet. It’s logical.”
Le emphasized that Bitcoin provides not only potential returns but also structural benefits: it trades around the clock, it isn’t influenced by central bank regulations, and it equip corporations with immediate global liquidity. In contrast, traditional capital markets function “252 days a year, 6.5 hours a day—19% of the time.”
Strategy has fully embraced this notion, refreshing its Bitcoin reserves in real-time. “We present our results daily. In fact, we refresh them every fifteen seconds on our website,” Le stated.
Reevaluating Accounting in a Bitcoin-Dominant Environment
One of the most significant obstacles for corporations integrating Bitcoin is the discord between traditional accounting regulations and a 24/7 asset. Existing standards were crafted for quarterly profits and sluggish financial instruments—not for real-time, globally exchanged digital assets.
As Phong Le articulated: “Accounting standards update every five years, quinquennially. Accounting standards don’t suit Bitcoin.”
According to GAAP, Bitcoin is categorized as an intangible asset—devalued when prices decline, yet not reassessed positively when they increase—resulting in a distorted perception of financial health.
To bridge that gap, Strategy has adopted a more transparent approach. “We present our results daily. In fact, we refresh them every fifteen seconds on our website,” Le asserted. This real-time reporting captures the always-active nature of Bitcoin and signals to the market that Strategy is operating under a different—and quicker—set of standards.
Rather than wait for institutions to adapt, Strategy is establishing the benchmark for how the performance of Bitcoin treasury companies should be assessed.
Why MSTR Stock Became the Most Monitored in the U.S. Market
Since implementing its Bitcoin treasury strategy, MSTR stock has become “the most high-performing, the most volatile, the highest volume, and the most intriguing stock in the United States,” according to Le. Its performance has consistently outstripped traditional benchmarks—not solely due to Bitcoin’s appreciation, but because Strategy fully embraced its identity as a Bitcoin-native public entity.
And it isn’t isolated. Le pointed out the expanding roster of companies replicating the framework: Metaplanet, Semler Scientific, and KULR Technology Group, all of which surpassed the S&P 500 and Bitcoin after adopting similar treasury approaches. “This is a replicable strategy,” Le asserted. “Everyone else ought to be implementing this.”
Breaking the Norm: A Corporate Appeal for Valor
Le concluded by urging executives and investors to challenge established beliefs. Strategy’s achievements did not stem from conforming to the herd—it derived from defying it.
“It requires bravery. It necessitates innovative thinking. It demands independent thought. It requires courage. It necessitates Bitcoin.”
As the first public corporation to make Bitcoin a fundamental part of its balance sheet, Strategy—under Michael Saylor’s vision and Phong Le’s guidance—has redefined the possibilities in corporate finance.
Or, as Le expressed: “Bitcoin enables corporations to escape from mediocrity.”
Disclaimer: This content was created on behalf of Bitcoin For Corporations. This article is intended exclusively for informational purposes and should not be perceived as an invitation or solicitation to acquire, purchase, or subscribe to securities.
