Jeff Booth said Strategy’s long-term outlook hinges on Bitcoin becoming a functioning currency rather than remaining only a financial asset. In an interview with Scott Melker, the Ego Death Capital co-founder argued that Bitcoin’s role as money must develop alongside its rise as a store of value for Strategy’s model to hold up over time. He said that if BTC stays primarily an instrument on corporate balance sheets, the company could eventually face government intervention, though he described that outcome as uncertain. If Bitcoin emerges as a currency, Booth said, Strategy could become one of the most valuable companies because it moved early. The comments came amid a broader debate over Bitcoin treasury companies, after Melker said he had been pitched investments in nine such firms at Bitcoin Vegas and questioned business models built mainly around accumulating BTC. Booth said companies should generate cash in the existing economy and save part of it in Bitcoin, rather than exist mainly to buy the asset. He also criticized Bitcoin yield products, warning that high-interest offers tied to surrendering self-custody (holding your own crypto keys) can recreate the financial structures Bitcoin was meant to challenge. Meanwhile, Strategy disclosed major treasury moves. On August 10, it sold 1,690 BTC for $108.6 million to buy back 1.15 million STRC preferred shares, and separately sold 6.59 million MSTR shares to raise $653.1 million for cash reserves that now exceed $4.6 billion. Its holdings stand at 840,447 BTC acquired for $63.36 billion at an average price of $75,385. CEO Phong Le said on August 12 that Bitcoin purchases should resume by year-end, calling the recent sales a pause rather than a strategic shift. The firm has bought about 175,000 BTC in 2026 and sold roughly 7,000, which Le described as making Strategy a 25-times net buyer. STRC has recovered from lows near $75 but remains below its $100 par value, closing near $95 last Friday.