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Bitcoin’s marketplace fundamentals person stayed beardown successful 2025, contempt the asset’s terms and sentiment declining toward the extremity of the year, says Strategy CEO Phong Le.
“The fundamentals of the marketplace this twelvemonth for Bitcoin couldn’t beryllium better,” Le told the “Coin Stories” podcast connected Tuesday, emphasizing that helium doesn’t attraction excessively overmuch astir its short-term performance.
Bitcoin (BTC) reached an all-time precocious of $125,100 connected Oct. 5, but has since declined astir 30%, trading astatine $87,687 astatine the clip of publication, according to CoinMarketCap. Meanwhile, the Crypto Fear & Greed Index, which measures wide marketplace sentiment, has shown “Extreme Fear” since Dec. 12.
Le acknowledged that Bitcoin’s terms “does what it does” and isn’t ever casual to explain.
“When you’re an investor, you deliberation astir the agelong word of the plus class,” helium said.
Bitcoiners should beryllium “fairly methodical” astir short-term price
Le stressed that short-term terms enactment is often unpredictable and Bitcoiners should beryllium “fairly methodical and mathematical astir it.”
“Which is wherefore we absorption connected things similar mNAV, wherefore we built retired the Bitcoin treasury and wherefore we built retired the US dollar treasury,” helium said.
Strategy CEO Phong Le spoke to Natalie Brunell connected the Coin Stories podcast. Source: Coin StoriesAlongside Bitcoin’s terms decline, Strategy’s (MSTR) mNAV, the company’s marketplace worth compared to the worth of its Bitcoin holdings, has fallen beneath 1, trading astatine 0.93, according to Saylor Tracker. The institution holds 671,268 Bitcoin worthy astir $58.63 billion.
Looking astatine the semipermanent fundamentals, helium pointed to the US authorities being “fully supportive of Bitcoin similar it’s ne'er been before.”
TradFi is trying to “figure out” however to drawback up
Le said that helium and Strategy enforcement chairman, Michael Saylor, person been gathering with accepted banks crossed the US and UAE, wherever institutions are trying to fig retired however to drawback up.
Related: Bitcoin mining’s 2026 reckoning: AI pivots, borderline unit and a combat to survive
“If you deliberation astir what’s happening with accepted powers of the world. The US government, the US banking system, they are each getting connected committee with Bitcoin,” Le said.
“That’s highly bullish for this twelvemonth and 2026,” Le added. While US President Trump signed the enforcement order officially establishing the Strategic Bitcoin Reserve and US Digital Asset Stockpile successful March, a formalized strategical program has not been confirmed yet.
Some analysts had forecasted it coming to fruition this year.
Galaxy Digital’s caput of firmwide research, Alex Thorn, said successful September that “there’s a beardown accidental the US authorities volition denote this twelvemonth that it has formed the strategical Bitcoin reserve.”
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