Strategy CEO Defends Bitcoin Sale as Cost-of-Capital Decision
Phong Le is the Chief Executive Officer of Strategy, an enterprise software company known for holding Bitcoin on its corporate balance sheet. He joined the company in 2015 and rose through the ranks from Chief Financial Officer to President before becoming CEO in 2022. Michael Saylor stepped into the Executive Chairman role at that time.
In a recent statement, Le defended the sale of approximately 7,000 BTC at $60,000 to $65,000, stating it was 'the right trade at the time' due to the cost of capital rather than a view on price. This decision was made despite Strategy buying back 4,603 BTC for around $369.7 million at an average price of $80,318 in the same period.
Le's reasoning is rooted in a treasurer's argument, focusing on the company's cost of capital rather than making a price call. He noted that the sale only accounted for under 1% of Strategy's holdings and that the company's overall Bitcoin holdings still grew by about 30% across 2026.