In a recent keynote address delivered on MIT Bitcoin Expo, Strategy (NASDAQ:MSTR) CEO Phong Le boldly put Bitcoin as a core component of modern corporate financial strategies. With over 528,000 BTC on the balance sheet, the strategy has become the most visible and perhaps the most successful public company.
“We outperformed the entire Nasdaq, the entire S&P 500, the entire Mag Seven, and we outperformed the Bitcoin.” Le told the audience.
Strategy Chair Michael Saylor laid the philosophical foundation for Bitcoin’s corporate use cases in 2020, while Le’s keynote drove execution and financial results. The talk was part of a challenge and part of a case study, which prompted corporate leaders to question everything from education to financial assumptions and rethink their balance sheets in the Bitcoin era.
Companies are not performing. Bitcoin offers exit
On the first day of the MIT Bitcoin Expo, Le opened with a breakdown of performance issues for American companies. Of the 35 million US companies, only the top tier of the S&P 500 companies, mainly meets market expectations. The rest is stagnant. “Almost every other company is not performing.” Le said.
He pointed his finger at the confirmed financial orthodox. MBA programs, elite consultants, and Wall Street companies continue to teach the same playbook. Optimize your profit and loss statement, reinvest in traditional assets, and stick to quarterly thinking. This results in systematic inperformance. “All they can do is the S&P 500.” He said private equity, venture capital and even hedge funds rarely beat their benchmarks.
Le’s paper: It’s not a lack of talent, it’s a lack of imagination.
Strategy Bitcoin Playbook: From Cash Drugs to Digital Capital
He argued that what set the strategy apart was the decision to treat the balance sheet as a strategic asset rather than a passive asset. Most companies park cash on products like low-yielding government bonds or gold, but the strategy has opted for Bitcoin.
“Why, if you’re a company, why wouldn’t you do the same? You’ll make money from your balance sheet. It makes sense.”
Le argued that Bitcoin not only returns potential, but also offers structural advantages. It trades 24/7 and provides businesses with immediate global liquidity, not subject to central bank policies. In contrast, it is run by traditional capital markets “252 days a year, 6.5 hours per day – 19% of the time.”
The strategy fully embraced this and updated the Bitcoin Reserve in real time. “We show results every day. In fact, we update them every 15 seconds on our website.” Le said.
Rethinking accounting in the native world of Bitcoin
One of the biggest challenges for companies adopting Bitcoin is the discrepancy between traditional accounting rules and assets 24/7. The current standard was built for quarterly revenue and slow moving financial products. It is not a digital asset that is traded worldwide, not in real time.
As Phong le said: “Accounting policy is updated every five years, but in Quinkens. Accounting policy does not work with Bitcoin.”
Under GAAP, Bitcoin is treated as an intangible asset that is marked when prices fall but not adjusted upwards when they rise.
To fill that gap, the strategy employs a more transparent approach. “We show results every day. In fact, we update them every 15 seconds on our website.” Le said. This real-time report reflects the ever-occurring nature of Bitcoin, reflecting the signal to the market that its strategies are being played by a faster set of rules.
Rather than waiting for the institution to catch up, the strategy sets the standard for how to measure the performance of Bitcoin finance companies.
Why were MSTR stocks most viewed on the US market?
Since adopting Bitcoin’s financial strategy, MSTR stocks have been “Most Performance, Most Volatile, Best Volume, and Most Interesting Stock in the US.” According to Le. Its performance consistently outperforms traditional benchmarks, not just because Bitcoin was valued, but because its strategy was rooted in its identity as a native Bitcoin public company.
And it’s not alone. Le highlighted the growth list of companies replicating the model, Metaplanet, Semler Scientific, and Kulr Technology Group. All of these were better than the S&P 500 and Bitcoin after adopting a similar financial strategy. “This is a replicable strategy.” Le said. “Everyone else should do this.”
Breaking the mold: Corporate appeal for courage
Le has been shut down by challenging executives and investors to question traditional wisdom. The success of the strategy wasn’t because of chasing the crowd. It came from rejecting it.
“It takes courage. It requires independent thinking. It requires independent thinking. It requires courage. It requires Bitcoin.”
As the first public company to turn Bitcoin into a balance sheet foundation, Michael Saylor’s vision and von Le’s leadership strategy redefine what is possible in corporate finance.
Or, like I said that: “Bitcoin allows businesses to find freedom from the average.”
Disclaimer: This content was written on behalf of Bitcoin for businesses. This article is for informational purposes only and should not be construed as an invitation or solicitation to acquire, purchase, or subscribe to any securities.
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