Strategy CEO: 7,000 Bitcoin Sale Was 'Minuscule' Decision

Strategy Inc., a NASDAQ-listed company, has defended its decision to sell roughly 7,000 Bitcoin near the market's lows. According to Strategy CEO Phong Le, the sale was 'minuscule' and represented less than 1% of the company's Bitcoin holdings.

In an interview with Bloomberg Crypto on September 1, Le clarified that the company's decision to sell Bitcoin is not driven by the cryptocurrency's price, but rather by its cost of capital and broader balance-sheet management.

Strategy sold the Bitcoin to fund preferred dividends and buybacks, and Le emphasized that it was a 'right trade at this point in time' to sell MSTR stock at a premium to buy Bitcoin.

The company has shifted from a 'one-way accumulator' to a more flexible approach, allowing it to trade Bitcoin, common stock, and preferred securities depending on market conditions and financing costs.