Strategy CEO Defends Two Opposite Bitcoin Trades as Equally Correct

Strategy CEO Phong Le defended two opposite Bitcoin trades as equally correct decisions during a recent Bloomberg TV interview. He explained that Strategy bases its choices on cost of capital rather than price direction alone.

The company sold 7,000 BTC near $60K to fund preferred dividends, which Le called the right trade at the time. This amount represented less than 1% of total Bitcoin holdings and was tied to an immediate capital requirement using existing reserves.

Over the following two months, Strategy reduced its net debt from about $7 billion to zero while building roughly $7 billion in U.S. dollar reserves. Total assets climbed to around $72 billion, with $65 billion held directly in Bitcoin, which Le referred to as a fortress balance sheet.