Why does Phong Le believe so much in Bitcoin, from Vietnamese refugees to the CEO of Strategy, the largest institutional holder of Bitcoin? Phong Le was born in Saigon, Vietnam in 1976. His parents were middle-class and engaged in agriculture and clothing business. After North Vietnam took over South Vietnam, it nationalized the currency, devalued the South Vietnamese currency to zero, only allowed the exchange of North Vietnamese currency equivalent to $10, and prohibited the holding of gold bars, resulting in the instant evaporation of family wealth. This deprivation of property rights is common around the world (such as in Russian rubles and Argentine pesos). In order to escape, his family ventured out to sea as "Vietnamese boat people", and about half of them died. They were lucky enough to be rescued by a ship, entered a refugee camp, and later immigrated to the United States sponsored by the Catholic Church in Syracuse, New York. When they first arrived in the United States, they lived in poverty and their parents worked hard, earning about $1000 a month. They also had to remit money back to Vietnam through a gold shop, with a cost of up to 30%. At the time, Phong Le was only 2 years old, and these early experiences built his belief in Bitcoin: as a digital asset, Bitcoin can protect property rights, is not easily confiscated or devalued, and solves the problem of high remittance fees.