Strategy CEO Von Leh said that despite the decline in Bitcoin price and sentiment toward the end of the year, Bitcoin’s market fundamentals will remain strong in 2025.
“The fundamentals of the Bitcoin market couldn’t be better this year,” Lee said on Tuesday’s “Coin Stories” podcast, stressing that he is not too concerned about short-term performance.
According to CoinMarketCap, Bitcoin (BTC) reached an all-time high of $125,100 on October 5th, but has since fallen nearly 30% and is trading at $87,687 at the time of publication. Meanwhile, the Crypto Fear & Greed Index, which measures overall market sentiment, has been showing “extreme fear” since December 12th.
Le acknowledged that Bitcoin’s price is something that “actually works” and is not always easy to explain.
“If you’re an investor, you’re thinking about the long term in that asset class,” he says.
Bitcoiners should be “very methodical” about short-term prices
Le emphasized that short-term price movements are often unpredictable and Bitcoiners have to be “pretty systematic and mathematical about it.”
“That’s why we’re focused on things like mNAV, why we’re building a Bitcoin treasury and why we’re building a USD treasury,” he said.
Strategy CEO Phong Le speaks with Natalie Brunell on the Coin Stories podcast. sauce: coin story
According to Saylor Tracker, as Bitcoin prices have fallen, the company’s mNAV, the company’s market value compared to Strategies’ (MSTR) Bitcoin holdings, has fallen below 1, trading at 0.93. The company holds 671,268 Bitcoins worth approximately $58.63 billion.
Looking at long-term fundamentals, he noted that the U.S. government is “more fully supportive of Bitcoin than ever before.”
TradFi is trying to “figure out” a way to catch up.
Mr. Lee and Michael Saylor, Strategy’s executive chairman, said they have been meeting with traditional banks in the United States and the United Arab Emirates (UAE) to figure out how financial institutions can catch up.
“If you think about what’s happening in the traditional powers of the world, the U.S. government, the U.S. banking system, they’re all getting on board with Bitcoin,” Lee said.
“This is extremely bullish for this year and 2026,” Lee added. US President Trump signed an executive order in March to formally establish the Strategic Bitcoin Reserve and US Digital Asset Reserve, but no formal strategic plan has yet been confirmed.
Some analysts had expected that to happen this year.
“The U.S. government is likely to announce the creation of a strategic Bitcoin reserve this year,” Alex Thorne, head of corporate research at Galaxy Digital, said in September.
