Strategy CEO Defends Selling BTC at Low Prices for Capital Costs

The CEO of Strategy Inc., Phong Le, defended his company's decision to sell 7,000 Bitcoin (BTC) at prices between $60K and $65K before repurchasing them when prices climbed above $80,000.

The decision was based on the firm's capital costs, not market price. Le emphasized that Strategy evaluates its trades based on the cost of securing capital, rather than spot prices.

In August, Strategy acquired 4,603 BTC for $369.7 million at an average entry point of $80,318, pushing its total Bitcoin reserves to 845,050 BTC.

The company had successfully lowered its net leverage to zero after accumulating $6.71 billion in cash assets to offset $6.75 billion in outstanding convertible bonds.