Phong Le

speaker

142 appearances 1 recordings 1 series first heard Mar 2026 last heard 3 Mar

Phong Le’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Mar 2026 with 1.

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The Pomp Podcast · The Future of Bitcoin Treasury Companies | Phong Le & David Bailey · 3 Mar 2026 podcast

But for what we're trying to build wasn't long term the right move.

phase three last year was digital credit became a bitcoin credit company and what we did is we raised about seven billion dollars of uh perpetual preferreds uh and and those who invest in preferreds you know it's a pretty small space primarily banks provide preferreds people call them hybrids between equity and debt but it's really an equity instrument meaning we don't have to pay it back ever because it's perpetual in nature

And it trades it trades on the Nasdaq.

So STRC trades 150 million bucks a day.

And that was the eureka moment where we said, if you want to match something like Bitcoin, which has long duration, high volatility, we need to provide to the market a short duration, low volatility product.

That's what STRC is.

that was phase three, uh, learned along the way, a lot of invention along the way.

Uh, but, uh, you know, Michael said it stretches our iPhone moment.

It's paying out today is trading at like 99 spot, seven, zero, uh, strive has done something with their SADA product.

This is the future.

This is the future for people who don't want, uh, the volatility of Bitcoin, but they want access to the underlying returns.

They buy stretch.

I met somebody out there, they're buying the product.

Uh,

So constant innovation and stretches is going to be the big thing.

Yeah, so those who want to buy Bitcoin, they want... First of all, I'd recommend long-duration investors, right?

Like if you're buying Bitcoin to get the immediate pump and you want to sell it in two weeks, look, you could be a gambler, you could be a trader, whatever it is you want to be.

I wouldn't recommend that.

If you want to buy Bitcoin, you have to have long duration, call it four or five years.

It's a 40 ARR product that has 40 vol, right?

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