Strategy CEO Defends Bitcoin Buy at $80,000 as Balance Sheet Swells to $72 Billion

Strategy CEO Phong Le defended his company's decision to buy Bitcoin at $80,000 after selling it in the $60,000 range.

In an interview with Bloomberg, Le explained that Strategy's balance sheet grew to $72 billion in assets over two months, including $65 billion in Bitcoin and $7 billion in U.S. dollar reserves.

He emphasized that the company's approach is a 'two-way strategy,' where they are willing to both buy and sell Bitcoin based on market conditions.

Le dismissed concerns about selling low and buying high, saying that Strategy did not make decisions solely based on price.