Strategy CEO Defends Bitcoin Sale and Subsequent Buyback Strategy
The CEO of Strategy (MSTR) defended the company’s decision to sell approximately 6,916 BTC in late June through mid-August at an average price near $62,200 before repurchasing nearly half that amount last week at around $80,318. Phong Le explained on Bloomberg Crypto that these moves were strategic financing decisions aimed at funding STRC dividends and capitalizing on a stronger balance sheet after reducing net debt to zero and building dollar reserves. Le emphasized the company’s role as a two-way capital management firm rather than just an accumulator of Bitcoin, noting it now holds 845,050 BTC valued around $65.4 billion. He also highlighted that Strategy's ability to buy back Bitcoin is tied to its stock premium and STRC preferred shares' performance. The sale represented less than 1% of the company’s holdings, which have grown by about a quarter this year.
Tickers: $MSTR
Topics: Bitcoin capital management crypto market movements ETFs