Strategy CEO Bullish on Bitcoin Amid Plan to Buy More

Strategy Inc.'s (NASDAQ:MSTR) CEO Phong Le defended the company's decision to sell Bitcoin (BTC) at lower price levels, later acquiring it at higher prices. The move allowed Strategy to strengthen its balance sheet and equity value, making it more profitable to sell MSTR shares and buy BTC.

According to Le, the company doesn't 'foresee' selling BTC as they enter what he considers a 'pretty heavy bull market.' He stated that Strategy will likely be buying BTC at $80,000, $90,000, or $100,000. When Bitcoin hits its all-time high of $130,000, they'll be buying it.

The company ended a two-month buying drought after acquiring 4,603 BTC at an average price of $80,318 per coin. Strategy's shares fell 1.43% in pre-market trading after closing 6.06% lower on Tuesday.