Strategy CEO Sells Bitcoin at $60K Before Repurchasing Higher
In an interview with Bloomberg Crypto, Strategy CEO Phong Le explained that the company sold approximately 6,916 BTC in late June through mid-August at a weighted average price of around $62,200. The decision was made to fund STRC dividends and strengthen its balance sheet rather than as a direct bet on Bitcoin's price movement. Later, Strategy repurchased 4,603 BTC for an average price of $80,318 per coin in late August using proceeds from the sale of MSTR shares. This increased the company’s total Bitcoin holdings to around 845,050 BTC with a value of approximately $65.4 billion. Le emphasized that Strategy's decisions are based on balance sheet optimization and financing costs rather than short-term price fluctuations in Bitcoin or its own stock.
Topics: Balance sheet management Bitcoin Investment strategy