Five years ago, the biggest risk to any corporate Bitcoin strategy was a knock on the door from a regulator. According to Phong Le, CEO of Strategy, that era is over.
Le, who has led the firm formerly known as MicroStrategy since August 2022, used recent earnings remarks to paint a picture of a US government that has moved from skeptical observer to active supporter of Bitcoin and digital assets. His core argument: the country now has what he described as a “Bitcoin president,” and the leadership installed at the SEC, Treasury, and CFTC reflects a deliberate pivot toward crypto-friendly policy.
What Le actually said, and why it matters
Strategy’s leverage sits between 10-12%, with cash reserves exceeding $2 billion. Those aren’t the numbers of a company bracing for a regulatory crackdown. They’re the numbers of a company that believes the path ahead is clear enough to accelerate.
Le indicated that Strategy is exploring raising over $80 billion in equity to expand its Bitcoin holdings over the coming year.
