Strategy CEO Defends BTC Sales and Repurchases Amid Debt Reduction

Strategy CEO Phong Le defended his company's decision to sell 7,000 BTC near $60,000 and later repurchase Bitcoin around $80,000. He emphasized that the move was driven by capital management needs rather than timing the price cycle.

The sale of 7,000 BTC accounted for less than 1% of Strategy's total Bitcoin holdings and provided funding for preferred dividends. Le compared this process to companies financing infrastructure projects through asset allocation, noting that the motivation came from internal requirements, not anticipation of Bitcoin's price trajectory.

Following the sale, Strategy reduced its net debt from $7 billion to zero over approximately two months, increasing its U.S. dollar reserves to $7 billion in the same period. With a strengthened balance sheet, the company resumed buying Bitcoin near $80,000, applying a cost-of-capital analysis.