MSTR Sees Bitcoin as Amplified Play, Will Continue Buying

Strategy CEO Phong Le said his company's recent Bitcoin sales are part of a larger strategy to expand its dollar reserves.

The company has sold over $108 million worth of Bitcoin at an average price of roughly $64,200 in the past two weeks, marking seven straight weeks without a purchase.

However, Strategy has bought about 25 times as much Bitcoin as it has sold during this period.

Le emphasized that the decision to sell is not driven by Bitcoin's price but rather by the company's focus on increasing its dollar reserves, which have climbed from around $800 million to $4.75 billion over the past few months.