On the opening day of the MIT Bitcoin Expo, Le kicked things off by dissecting the performance struggles of corporate America. Out of the 35 million companies in the U.S., he pointed out that only the elite—mainly S&P 500 companies—are actually meeting market expectations. A vast majority are simply not growing. “The reality is, almost every other company is underperforming,” Le stated.

He directly blamed deeply ingrained financial traditions for this situation. Business schools, top consulting firms, and Wall Street institutions, he argued, continue to push the same old strategies: focus solely on the income statement, reinvest in conventional assets, and prioritize short-term quarterly results. This outdated approach, Le contended, leads to widespread underachievement. “All they manage to do is match the S&P 500,” he commented, adding that even alternative investments like private equity, venture capital, and hedge funds rarely surpass this basic benchmark.

Le’s core argument? It’s not a matter of lacking talent—it’s about a failure of imagination and vision.

Strategy’s Bitcoin Playbook: From Cash Drag to Digital Capital

What truly sets Strategy apart, Le explained, is their groundbreaking decision to treat their balance sheet as a dynamic, strategic asset—rather than just a static holding. While most companies tend to keep their cash in low-yield government bonds or traditional commodities like gold, Strategy made a bold move towards Bitcoin.

“The question becomes, why wouldn’t any company do the same? Actually generate returns from your balance sheet. It’s just common sense.”

Le emphasized that Bitcoin provides more than just potential for high returns; it offers fundamental structural advantages. It operates 24 hours a day, 7 days a week, it’s independent of central bank monetary policy, and it grants corporations immediate global liquidity. In contrast, traditional capital markets are limited, functioning only “252 days a year, 6.5 hours a day—just 19% of the time.”

Strategy has fully embraced this always-on nature, actively managing its Bitcoin reserves in real time. “We publicly display our results daily. In fact, we update them every fifteen seconds right on our website,” Le shared.

Rethinking Accounting in a Bitcoin-Native World

One of the most significant hurdles for corporations adopting Bitcoin is the incompatibility between standard accounting practices and a 24/7 digital asset. Current accounting rules were designed for quarterly financial reporting and slow-moving, traditional financial instruments—not for the fast-paced world of globally traded, real-time digital assets.

As Phong Le pointedly stated: “Accounting policies are updated at a glacial pace, maybe once every five years. Frankly, current accounting policies simply don’t work effectively for Bitcoin.”

Under Generally Accepted Accounting Principles (GAAP), Bitcoin is classified as an intangible asset. This means it must be written down in value when prices decrease but cannot be adjusted upwards when prices increase—leading to a misleading picture of a company’s actual financial strength.

To address this discrepancy, Strategy has adopted a far more transparent reporting method. “We show our performance data every single day. In fact, we refresh it every fifteen seconds on our website,” Le reiterated. This continuous, up-to-the-minute reporting reflects the always-active nature of Bitcoin and signals to the market that Strategy is operating under a different—and much faster—set of financial rules.

Instead of waiting for established institutions to catch up, Strategy is actively defining the new benchmark for evaluating the performance of Bitcoin-focused treasury companies.

Why MSTR Stock Became the Most Watched in the U.S. Market

Since implementing its Bitcoin treasury strategy, MSTR stock has transformed into “the most successful, the most volatile, the highest traded, and ultimately, the most captivating stock in the entire U.S. market,” according to Le. Its impressive performance has consistently surpassed traditional market indexes— not only due to Bitcoin’s price appreciation, but also because Strategy has wholeheartedly embraced its identity as a pioneering Bitcoin-native public company.

And Strategy isn’t alone in this approach. Le highlighted the growing number of companies now replicating their successful model: Metaplanet, Semler Scientific, and KULR Technology Group. Notably, all of these companies have also outperformed both the S&P 500 and Bitcoin since adopting similar Bitcoin treasury strategies. “This isn’t some fluke; it’s a strategy that works and can be repeated,” Le emphasized. “Frankly, every company should be considering this.”

Breaking the Mold: A Corporate Call to Courage

Le concluded his keynote by challenging fellow executives and investors to question long-held industry norms. Strategy’s remarkable success, he stressed, wasn’t achieved by following the well-trodden path—it came from actively choosing to deviate from it.

“It demands courage. It requires truly original thought. It takes independent thinking. It necessitates bravery. Ultimately, it takes Bitcoin.”

As the very first publicly traded company to integrate Bitcoin as a fundamental part of its balance sheet, Strategy—under Michael Saylor’s visionary direction and Phong Le’s impactful leadership—has truly redefined the boundaries of what’s achievable in corporate finance.

Or, as Le eloquently put it: “Bitcoin empowers corporations to break free from the constraints of mediocrity and find freedom from the average.”

Disclaimer: This content was written on behalf of Bitcoin For Corporations. This article is intended solely for informational purposes and should not be interpreted as an invitation or solicitation to acquire, purchase, or subscribe for securities.