Strategy CEO Phong Le compares company to Nvidia in digital assets

Phong Le wants you to think about Strategy the way you think about Nvidia. Not the chips, not the software, but the market position: a company so dominant in a transformative technology that competitors are essentially playing catch-up by definition. The Strategy CEO made the comparison directly, saying the firm aims to be the Nvidia of digital assets by holding the most Bitcoin. The world’s largest Bitcoin treasury, by a wide margin Strategy, the company formerly known as MicroStrategy, holds approximately 845,000 BTC as of mid-2026. That figure represents more than 4% of Bitcoin’s total supply, a concentration that no other publicly traded company comes close to matching. Le has led the company since 2022, though his tenure at Strategy stretches back to 2015, when he joined as CFO and later served as COO. He inherited a playbook written largely by executive chairman Michael Saylor, who pioneered the corporate Bitcoin treasury model starting in 2020, and he has since pushed the strategy further and faster. Capital structure as competitive moat One of the less-discussed parts of Strategy’s playbook is how it funds continued Bitcoin accumulation. The company has leaned on preferred ...