Join President and CEO of Strategy Phong Le in this December 2025 interview on Schwab Network. Phong joins hosts Marley Kaden and Sam Bodis to reveal exactly why now was the perfect time to stack, how their capital structure gives them virtually unlimited dry powder, and why dividends remain rock-solid no matter what Bitcoin does next.
Phong breaks down the math everyone wants to hear: even in a brutal 50% BTC crash, current holdings could fund dividends until roughly 2065; if Bitcoin simply stays flat, dividends are covered clear through 2100; with just 1.25% average annual growth, those dividends can be paid forever. He also delivers a sharp, point-by-point rebuttal to MSCI’s proposed rule that would boot companies holding more than 50% in digital assets, calling the threshold arbitrary and comparing it to excluding oil giants for owning reserves or gold miners for holding physical bullion.
With ultra-low leverage, perpetual financing, and major regulatory tailwinds arriving in 2026, Fong predicts Wall Street heavyweights like JPMorgan, Morgan Stanley, and Citi will finally launch full-scale Bitcoin custody, lending, and staking services, exactly why Strategy refuses to slow down its accumulation. Must-watch for every $MSTR shareholder and Bitcoin believer.
Timestamps:
0:00 – Intro: Strategy’s Massive $1B Bitcoin Buy
0:18 – Why Strategy Just Bought Nearly $1 Billion in BTC
1:00 – Can Strategy’s Reserves Pay Dividends Forever?
1:27 – Would Strategy Ever Sell Bitcoin in a Crypto Winter?
2:27 – Is Strategy’s Buying a Bullish Signal for Crypto?
2:58 – How Strategy’s Low-Leverage Capital Structure Works
4:42 – Strategy’s Fight Against MSCI Exclusion Rules
5:01 – Why MSCI’s 50% Digital Asset Rule is Misguided
6:42 – Comparing Bitcoin Treasuries to Oil, Gold & Real Estate
7:34 – 2026 Outlook: Regulatory Clarity & Big Banks Enter Crypto
8:15 – The Coming TradFi + DeFi Explosion
8:52 – Closing Thoughts with Strategy CEO Fong Lee
#PhongLe #MSTR #Bitcoin
PHONG LE PLAYLIST:
MICHAEL SAYLOR PLAYLIST:
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9 Comments
At 1:34 minutes in, Mr Le claims that Strategy has enough cash (US dollar reserves) to support dividends and interest to 2029 (four years from today). However, if the annual interest and dividend charge is 800m and the cash reserves are 1.44 bn then the company has only enough cash to support 1.8 years in dividends, not 4 years.
Robot chick asks questions like a champ. Wonder if she even understands what she’s asking?
We will do it with or without the indices! They can suck a fat one!
The old financial Jekyll Island cabal can’t control MSTR and they are pissed ….they are such psychopaths they can’t imagine regular folks getting wealthy without them
Phong Le is a wonderful CEO
Its old hat Strategy has this they are too skilled and versed
Interviewer, while you’re at it, just load up 23 questions at a time. OR…you can ask ONE at a time.
Mr Phong is a straight shooter. No BS
Just clear unambiguous description of the current state and potential future. Love engineers that go into finance.