In a world where digital assets are shaking up traditional finance, some companies aren’t just riding the crypto wave—they’re trying to surf it all the way to the top.
And according to BitMine Chairman Tom Lee, one of those companies, Strategy, might just be on its way to doing that.
Lee believes Strategy’s commitment to Bitcoin could turn it into one of the biggest players in the stock market—putting it in league with today’s tech giants like NVIDIA and Microsoft.
Strategy’s Vault May Matter More Than Its Profits
Lee made it clear: Strategy’s value isn’t built on quarterly earnings.
Instead, it’s built on what’s sitting in its digital vault—Bitcoin.
In his view, this makes the company less like a software business and more like the oil companies of the past, which were valued for their reserves.
He likened Strategy to ExxonMobil in its prime—back when Exxon’s position in the top five of the S&P 500 was based almost entirely on its oil stockpile.
For Strategy, the modern-day version of that commodity is Bitcoin.
Could Strategy Overtake Microsoft and NVIDIA?
Here’s where the prediction gets really bold:
Lee suggested that if Bitcoin ever hits the $1 million mark, Strategy could shoot up the market rankings.
With its current 628,791 BTC stash, Strategy’s holdings would be worth about $620 billion if Bitcoin reached that price.
That’s a staggering sum—but still short of today’s market leaders. To actually leapfrog NVIDIA, Bitcoin would need to trade over $6 million per coin.
A long shot? Maybe. But in crypto, stranger things have happened.
From $46 Billion In to $70 Billion Out
According to reports, Strategy has spent roughly $46 billion acquiring its mountain of Bitcoin over time.
And as of now, that pile is valued at around $70 billion.
What’s more surprising is how little traditional cash the company holds—just about $50 million in fiat currency.
Yet because it holds crypto instead of cash, its treasury ranks among the top 10 largest in the U.S.—even ahead of major players like PayPal and ExxonMobil.
Strategy Doubles Down With a $4.2 Billion Bitcoin Buy
In a recent move, Strategy filed for a $4.2 billion STRC offering, with plans to use the proceeds to buy even more Bitcoin.
That means more coins, more exposure to crypto markets, and an even bigger identity as a “Bitcoin-first” firm.
Lee sees this not just as a bold strategy—but a sign of things to come.
If returns keep outpacing traditional assets, other companies might ditch bonds and cash and opt for Bitcoin instead.
BitMine Joins the Race With Massive Ethereum Holdings
It’s not just Strategy making headlines. BitMine, where Tom Lee currently serves as Chairman, has gone all-in on Ethereum.
The company now holds more than 833,000 ETH, making it the largest publicly listed holder of that asset.
Lee believes this signals a broader shift. While some companies might back Bitcoin, others could go with Ethereum or other crypto assets as part of a new kind of financial playbook.
A Changing Landscape for Corporate Treasuries
If this trend continues, balance sheets could look very different in the years ahead.
Instead of relying on slow-moving assets like cash and government bonds, companies may start treating crypto as a high-risk, high-reward store of value.
According to Lee, the entire definition of what makes a company “valuable” is starting to evolve—and Bitcoin might be the new standard.