At a recent keynote delivered at the MIT Bitcoin Expo, Phong Le, CEO of Device (NASDAQ: MSTR), made a plucky case for Bitcoin as a core element of standard corporate treasury technique. With over 528,000 BTC on its stability sheet, Device has change into essentially the most visible—and arguably essentially the most profitable—public firm to undertake Bitcoin as a fundamental reserve asset.
“We outperformed the total Nasdaq, the total S&P 500, the total Magazine Seven… and we outperformed Bitcoin,” Le told the target market.
Whereas Device Chairman Michael Saylor laid the philosophical foundation for Bitcoin’s corporate exhaust case initiating in 2020, Le’s keynote drove dwelling the executional and financial outcomes. The debate, which used to be fraction situation and fraction case peek, knowledgeable corporate leaders to ask all the pieces from their education to their financial assumptions—and to reimagine their stability sheet within the Bitcoin technology.
Firms Aren’t Performing—And Bitcoin Provides a Manner Out
On Day 1 of the MIT Bitcoin Expo, Le opened with a breakdown of corporate America’s performance effort. Of the 35 million firms within the U.S., fully the tip tier—primarily S&P 500 firms—are meeting market expectations. The comfort are stagnating. “Nearly each lots of firm is never any longer performing,” Le talked about.
He pointed the finger at entrenched financial orthodoxy. MBA programs, elite consultancies, and Wall Street firms proceed to educate the equal playbook: optimize the earnings assertion, reinvest in outmoded resources, and follow quarterly pondering. The pause end result’s systemic underperformance. “All they’ll fabricate is the S&P 500,” he talked about, noting even deepest equity, venture capital, and hedge funds rarely beat that benchmark.
Le’s thesis: it’s no longer an absence of talent—it’s an absence of creativeness.
Device’s Bitcoin Playbook: From Money Scamper to Digital Capital
What house Device apart, Le argued, used to be its decision to treat the stability sheet as a strategic asset—rather then a passive one. Whereas most firms park cash in low-yield government bonds or commodities savor gold, Device selected Bitcoin.
“Why, whilst you’re a firm, wouldn’t you fabricate the equal element? Rating cash off of your stability sheet. Makes sense.”
Le made the purpose that Bitcoin offers no longer appropriate return doubtless, but structural advantages: it trades 24/7, it isn’t field to central financial institution policy, and it gives companies with instantaneous global liquidity. By distinction, outmoded capital markets operate “252 days a 365 days, 6.5 hours a day—19% of the time.”
Device has embraced this fully, updating its Bitcoin reserves in right time. “We point to our outcomes day-to-day. In actuality, we update them each fifteen seconds on our web map,” Le talked about.
Rethinking Accounting in a Bitcoin-Native World
Regarded as one of many top doubtless challenges for companies adopting Bitcoin is the mismatch between outmoded accounting principles and a 24/7 asset. Original requirements had been constructed for quarterly earnings and wearisome-intelligent financial devices—no longer right-time, globally traded digital resources.
As Phong Le place it: “Accounting insurance policies update each five years, quinquennially. Accounting insurance policies don’t work for Bitcoin.”
Under GAAP, Bitcoin is handled as an intangible asset—marked down when prices fall, but no longer adjusted upward after they upward thrust—making a distorted assessment of enterprise health.
To shut that gap, Device has adopted a extra clear blueprint. “We point to our outcomes day-to-day. In actuality, we update them each fifteen seconds on our web map,” Le talked about. This particular-time reporting shows the repeatedly-on nature of Bitcoin and alerts to the market that Device is taking part in by a uncommon—and faster—house of principles.
As a replacement of look forward to institutions to rep up, Device is surroundings the stylish for how the performance of Bitcoin treasury firms ought to be measured.
Why MSTR Inventory Changed into the Most Watched within the U.S. Market
Since adopting its Bitcoin treasury technique, MSTR stock has change into “essentially the most performant, essentially the most unstable, the top doubtless volume, and most attention-grabbing stock within the US,” per Le. Its performance has consistently outpaced outmoded benchmarks—no longer appropriate because Bitcoin favored, but because Device leaned into its identity as a Bitcoin-native public firm.
And it’s no longer on my own. Le highlighted the rising checklist of firms replicating the mannequin: Metaplanet, Semler Scientific, and KULR Technology Personnel, all of which outperformed the S&P 500 and Bitcoin after adopting same treasury programs. “Here’s a replicable technique,” Le talked about. “Everybody else ought to be doing this.”
Breaking the Mould: A Company Name to Braveness
Le closed by no longer easy executives and merchants to ask former wisdom. Device’s success didn’t come from following the crowd—it came from rejecting it.
“It takes courage. It takes long-established pondering. It takes honest pondering. It takes bravery. It takes Bitcoin.”
Because the first public firm to reveal Bitcoin into a cornerstone of its stability sheet, Device—below Michael Saylor’s vision and Phong Le’s leadership—has redefined what’s that you just may perchance well have the option to impart in corporate finance.
Or, as Le place it: “Bitcoin enables companies to search out freedom from the stylish.”
Disclaimer: This yell material used to be written on behalf of Bitcoin For Firms. This text is supposed fully for informational functions and is no longer the least bit times going to be interpreted as an invite or solicitation to build, aquire, or subscribe for securities.
This put up Device CEO Makes the Case for Company Bitcoin Adoption in MIT Keynote first appeared on Bitcoin Journal and is written by Slash Ward.
