In this episode of the Milk Road Show, host John Gill interviews Phong Le, the president and CEO of Strategy (formerly MicroStrategy), to discuss Strategy's Bitcoin-backed securities and their outlook for 2026. Phong Le explains the suite of products Strategy offers, including MSTR, Strike, Strife, and Stretch, detailing their unique features and target investors. He addresses concerns about MSTR's price performance relative to Bitcoin and discusses the company's capital strategy, emphasizing the importance of Bitcoin per share as a key performance indicator. Phong Le also touches on Strategy's approach to Bitcoin accumulation, the evolution of their business model, and their efforts to educate the public about both Bitcoin and their financial products, as well as his thoughts on the future of Bitcoin and traditional finance.
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