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Strategy wants one million Bitcoins.
Not in five years. In the coming months. The company already holds 818,334, just behind Satoshi Nakamoto himself. Phong Le, the CEO, confirmed this during a panel with Adam Back of Blockstream and host Natalie Brunell. The two discussed Bitcoin treasury, tokenization, digital credit. And above all, how major banks will have to adapt or fade away.
Le spent time on STRC. It’s Strategy’s perpetual preferred stock. It pays 11.5% annually. All these dividends? They buy Bitcoin. “STRC allows investors to access BTC easily,” says Le. The product also supports DeFi protocols, opening doors to use BTC as collateral without selling it. Not bad for those who want to maintain their exposure while generating returns.
Back Defends Institutional Adoption
Adam Back has a clear vision. Sovereign wealth funds are buying Bitcoin now. Private funds too. For him, it’s not a compromise. It’s a victory. “Cypherpunks believe in capital formation and free markets,” he said. Not just in cryptographic privacy. Institutional integration validates free market principles. The growth of Bitcoin by action benefits all holders, not just the whales.
Tokenization dominated much of the conversation. Back believes it’s the next major structural change. Tokenized assets allow for 24/7 transactions. No market closing at 4 PM. No waiting for Monday morning. You can use these assets as collateral in real-time, which changes everything for investors who want liquidity without selling.
Le added that tokenization could make markets as simple as contactless payment. “We could turn stock transactions into peer-to-peer operations,” he said. More transparent. More efficient. Discovering value in complex instruments like private notes and contracts becomes possible. It opens avenues for valuing assets that remain obscure today.
Major Banks Will Have to Play
Le compared the entry of banks into Bitcoin digital credit to Amazon forcing Walmart to adapt. “Major banks will enter the sector,” he said. He hopes to see Morgan Stanley join the movement. Probably not out of love for decentralization. Rather because they won’t have a choice.
Bitcoin digital credit is a game-changer. Traditional institutions will have to offer these services or lose customers. Le thinks it will happen quickly. Not in ten years. Soon.
Back emphasized that tokenization makes assets more liquid. It also uncovers hidden values in complex financial instruments. Private notes, structured contracts, all become clearer and easier to trade. For investors, this means more opportunities and less friction.
The panel ended on a light note. Brunell asked Back about a New York Times article naming him as Satoshi Nakamoto. He dodged. “I prefer to focus on the growing adoption of Bitcoin technology,” he said. No direct comment on Satoshi’s identity. Just a focus on ongoing innovation in the space.
Strategy is pushing hard. 818,334 BTC now, a million soon. STRC generates dividends that buy more Bitcoin. Tokenization is coming. Major banks will follow. And Adam Back is still not Satoshi, at least officially.
Frequently Asked Questions
How many Bitcoins does Strategy currently hold?
Strategy holds 818,334 Bitcoins, placing it just behind Satoshi Nakamoto in terms of total ownership.
What is STRC and how does it work?
STRC is Strategy’s perpetual preferred stock that pays an annual dividend of 11.5%, with the funds generated used to buy Bitcoin.
Why does Adam Back think institutional adoption is positive?
Back says cypherpunks believe in capital formation and free markets, so the integration of BTC by sovereign and private funds validates these principles.
