MSTR CEO Defends Selling Bitcoin Low, Buying High Based on Capital Costs

Strategy Inc., MSTR, CEO Phong Le explained that his company's decision to sell Bitcoin between $60K-$65K and then repurchase at $80K was based on capital costs, not market price.

The firm sold around 7,000 BTC in three transactions between July and August, generating cash reserves needed for preferred dividend obligations and broader financial restructuring efforts.

Le emphasized that using Bitcoin proceeds to fund preferred dividends represented 'the optimal decision under those circumstances.'

The company successfully reduced its net leverage to zero after accumulating $6.71 billion in cash assets to offset $6.75 billion in outstanding convertible bonds, effectively creating a 'fortress' balance sheet.