MicroStrategy chief executive Phong Le has called Bitcoin (BTC) the “United States of money.” On-chain tracker Arkham says the $1 million bet he made on the firm’s preferred stock is back to break-even.

The purchase, in a securities filing, doubles as a personal wager on the company Le runs. Strategy, formerly MicroStrategy, is fighting to hold its Stretch preferred stock (STRC) near par after a Bitcoin slump.

$1 Million Bet Back at Break-Even

A June 22 filing shows Le bought 11,000 STRC shares through his family trust. He paid a weighted-average $90.80 apiece, or about $998,756. He framed it as a long-term hold, not a trade.

That price was below STRC’s stated $100 value. Strategy designed the stock to trade near that $100 par value, adjusting its dividend monthly to defend the peg.

The company has since lifted STRC’s annual dividend to 12%, up from 9% at its July 2025 debut. That has pulled the shares back toward par. Arkham now pegs Le’s position at break-even.

The recovery matters because STRC anchors a preferred-stock stack now worth more than $13 billion. MicroStrategy recently outlined a new Bitcoin sales policy that could fund those dividends by selling some of its holdings.

“I bought $1 million of $STRC today. Will hold it until it reaches par, likely longer,” Le described the buy in a June post.

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Why Le Calls Bitcoin the United States of Money

Le laid out his case for Bitcoin, describing it as money set by transparent rules and a fixed supply that no government can inflate away. The asset, he argued, shields wealth from inflation, censorship, and political pressure.

“Bitcoin is the United States of money. It aspires to do for money what the American Constitution aspired to do for government: create a system governed by transparent rules rather than the discretion of individuals…But beyond that, Bitcoin is hope,” he stated.

He tied the view to his own past. He linked his family’s refugee journey from Vietnam to the belief that people should control their own money. Le has predicted Bitcoin could become a global reserve asset within a decade.

The conviction carries weight because Le runs Strategy, the largest corporate Bitcoin holder at 818,334 BTC.

Founder Michael Saylor pioneered that treasury model in 2020. Le points to banks like Goldman Sachs and Citi adding Bitcoin services as proof that the shift is real.

Not everyone shares the optimism. Bitwise has said Strategy is no longer Bitcoin’s dominant buyer. The firm also booked a $12.5 billion quarterly loss as bitcoin fell. Rival corporate Bitcoin treasuries have kept accumulating through the slump.

Whether the break-even holds depends on how STRC and Bitcoin’s bear market play out from here. For now, Le’s balance sheet and his personal account are pointing in the same direction.

Source: BeInCrypto