Strategy's Phong Le calls Bitcoin "United States of Money" — his $1M STRC bet finally crosses back to break-even

MicroStrategy chief executive Phong Le has publicly described Bitcoin ($BTC) as the "United States of money," framing the asset as a monetary system governed by transparent rules and a fixed supply immune to government-driven inflation. "Bitcoin is the United States of money. It aspires to do for money what the American Constitution aspired to do for government: create a system governed by transparent rules rather than the discretion of individuals…But beyond that, Bitcoin is hope," Le stated, linking the conviction to his family's refugee journey from Vietnam and his belief that individuals should control their own money. Le has predicted Bitcoin could become a global reserve asset within a decade.

The comments come from the CEO of Strategy, formerly MicroStrategy, which remains the largest corporate Bitcoin holder at 818,334 BTC, a treasury model pioneered by founder Michael Saylor in 2020. Le has pointed to banks including Goldman Sachs and Citi adding Bitcoin services as evidence that institutional adoption is accelerating, though Bitwise has said Strategy is no longer $BTC's dominant buyer and the firm booked a $12.5 billion quarterly loss as bitcoin fell.

Le's monetary philosophy has been tested personally by a $1 million wager on his own company's preferred stock. A June 22 securities filing shows Le purchased 11,000 shares of Strategy's Stretch preferred stock ($STRC) through his family trust at a weighted-average price of $90.80 apiece, totaling about $998,756, well below the stock's stated $100 par value. "I bought $1 million of $STRC today. Will hold it until it reaches par, likely longer," Le wrote in a June post, describing the buy as a long-term hold rather than a trade.

On-chain tracker Arkham reports Le's position is now back to break-even as $STRC trades near $90. Strategy designed the instrument to hover close to its $100 par value by adjusting its dividend monthly to defend the peg, raising the annual dividend to 12% from the 9% set at the stock's July 2025 debut. The recovery is consequential because $STRC anchors a preferred-stock stack now worth more than $13 billion, which Strategy has said it may fund in part through a newly outlined Bitcoin sales policy.