Strategy CEO: Bitcoin fundamentals ’couldn’t be better’ despite late-2025 price pullback
Strategy (MicroStrategy) CEO Phong Le said Bitcoin market fundamentals “couldn’t be better” for 2025 on the Coin Stories podcast, arguing long-term drivers outweigh recent price weakness. Bitcoin hit an all-time high of $125,100 on Oct. 5 before sliding almost 30% to around $87k at publication. Sentiment measures show “Extreme Fear” (Crypto Fear & Greed Index). Le advised traders to be methodical on short-term moves, citing metrics such as micro NAV (mNAV) and Strategy’s Bitcoin and USD treasuries. Strategy’s mNAV has fallen below 1 to 0.93; the company holds 671,268 BTC (~$58.6B). Le emphasized rising institutional and government support — meetings with banks in the US and UAE and growing engagement from US policy and banking sectors — which he views as bullish for 2025–2026. The interview referenced Michael Saylor’s involvement and noted expectations around a potential US Strategic Bitcoin Reserve, though no formal plan has been confirmed.
Bullish
The statement by Strategy CEO Phong Le is bullish because it highlights strengthening long-term fundamentals, growing institutional engagement, and potential government-level support — all structural tailwinds for Bitcoin. Key data points: BTC’s 2025 ATH ($125,100) shows strong demand; Strategy’s large BTC holdings (671,268 BTC) and continued treasury management signal institutional conviction despite mNAV dipping below 1 (0.93), which can present buying opportunities. Historical parallels: prior cycles where institutional adoption, clearer regulatory stances, or public-company BTC accumulation preceded multi-year bull runs (e.g., MicroStrategy’s earlier accumulation in 2020–21) suggest medium- to long-term upside. Short-term, sentiment is weak (Crypto Fear & Greed Index in Extreme Fear) and price volatility is high — traders should expect further pullbacks or chop and use methodical, quantitative approaches (risk sizing, mNAV/treasury arbitrage, dollar-cost averaging, defined stop-losses). Overall, the news reduces regulatory and adoption uncertainty, which is constructive for market stability and longer-term price appreciation, while near-term momentum remains mixed.