Phong Le

Running @Strategy

I joined @teresagoody at @Money2020 to discuss Bitcoin as Digital Capital, $STRC, the convergence of TradFi and DeFi, and Strategy’s vision to become the Bitcoin bank of the world.

01:15 - Strategy’s evolution: from enterprise software to 845,000 BTC
02:17 - The next 2–5 years: convergence of Digital Assets, TradFi, and DeFi
04:03 - Bitcoin as Digital Capital: engineering volatility into Digital Credit
07:00 - $MSTR as Amplified Bitcoin and a suite of perpetual preferreds
08:10 - Building financial products on the Bitcoin standard
10:10 - Capital management, $STRC, and expanding access to Bitcoin-linked returns
13:28 - Scale and liquidity: the foundation for institutional adoption
16:07 - Building on $STRC: DeFi yield products, banks, and stablecoins
20:15 - Strategy’s vision: the Bitcoin bank of the world

One day post-election, Digital Capital $BTC, Digital Equity $MSTR, and Digital Credit $STRC are all up. The markets have spoken.

The AI investment cycle is massive. So is the Bitcoin capital cycle.

Strategy was the #1 U.S. equity issuer in 2025 and is #4 in 2026 YTD, behind only SpaceX, Alphabet, and Intel.

Created a $1.5 trillion asset class owned by hundreds of millions of people worldwide. Built a technology transforming money, markets, and society.

What did you do by your 18th birthday?