I once competed with Micro Strategy, now renamed Strategy by its Executive Chairman and former CEO Michael Saylor.

At the time Saylor ran a formidable company, Micro Strategy, but he has now pivoted the whole enterprise into a Crypto Currency investment vehicle.

Strategy, a software company is now mainly a leveraged bet on bitcoin, having borrowed to accumulate about $60bn-worth. 

It's website proclaims: -

We are the world's first and largest Bitcoin Treasury company..

To be fair it also states: -

… and the largest independent, publicly traded business intelligence company.

Will the latter suffer from the former?

The firm’s market capitalisation is now below the value of its bitcoin holdings, raising the prospect of crypto fire-sales. It is not the only source of risk in the digital-asset universe. On October 10th some $19bn in leveraged crypto positions were wiped out after Mr Trump announced fresh 100% tariffs on China (the levies were walked back a few days later). No one knows how much leverage remains, but the further prices fall, the greater the risk of serial blow-ups.

bitcoin has dropped from an all-time high of around $126,000 in early October to just above $92,000. For a speculative asset—one which produces no income and relies solely on hopes for future capital gains—the absence of a fresh bullish narrative to justify further price rises is a challenge. And because wider acceptance has deepened crypto’s links with other markets, the ripple effects from the dip will be felt far beyond the industry.

That is not to say that no crypto currency produces income on which its future is bullish. ReLeaf Financial has a patented blockchain, cryptocurrency and payment proof of intent (POI) platform aimed directly at low and middle income countries where telcos have leapfrogged banks to provide mobile money payments services to subscribers earning typicall just $5 to $25 a day. 

Not just payments but with ecosystem partners embedded micro insurance, micro loans, micro contracting. Who needs banks when a phone and mobile money is all you need?

ReLeaf's platform integrates into the backend of telcos mobile money platforms and thus leverages the existing security, compliance and financial services offered. It let's telcos use the unused compute power of every subsciber's smartphone to validate transactions. If subscribers trust their telcos with mobile money systems they will trust them to use this unused compute on every smartphone. That leads to an inclusive win:win relationship.

Telcos without mobile money payment platforms can also levarage the ReLeaf payments platform and tens of millions of users have already pre-signed for the 2026 production release.

ReLeaf rewards telco subscribers every time a transaction is validated. The telco can decide the form of the reward- plan and data costs, fund new devices, pay for affiliate products and services, and/or create passive income directly for the user.

ReLeaf's platform rewards in crpto-  Leafs and Ruuts. Every participating subsciber can see the $value of these rewards in their account and thank their telco for the additional income or new smartphone. This crpto scheme is based on created value and not capital gain speculation like bitcoin. Value that can be converted into local currency at any time. 

Telcos like Safaricom, gain as well; one by reducing customer churn which is estimated to cost the global telco industry $20 billion a year. Loyalty programs that cost much less, are effective and deliver value to telcos and their customers. Improving margins and EBITDA whilst delivering value to their customers. A win:win new business model.

 You can find out more by contacting CEO Chris Surdak who masterminded the built and patent issuance over seven long years.

I am sure there are other examples where business models are being planned for the good of humanity rather than greed and high margin extraction.

In conclusion I started by questioning Strategy's pivot to being a Bitcoin Treasury Company when bitcoin is a speculative bet on capital gains but where no actual income is ever created. The renowned BI and Analytics business unit is a hostage to that bet and today the firm’s market capitalisation is below the value of its bitcoin holdings. Danger!

ReLeaf is an example of a company with a cryptocurrency/blockchain/data mining and payments validation company that creates value- the validation of payments and proof of intent which are essential for micro contracting and secure payments. 

Not speculation but a viable business model. In further reading see Douglas Laney's article in Forbes and more about the mobile money and financial services offered by certain telcos. 

Futher Reading

Telcos Are Becoming Banks For The Next 2 Billion Customers by Douglas Laney in Forbes Magazine Oct 2025

Vodacom, Safaricom- African Telcos, Mobile Money and Financial Services on the innovation with microl oans, micro insurance and a growing ecosystem of financial services