Strategy CEO Sees Bitcoin Bear Cycle Lasting Eight Months
Strategy CEO Phong Le recently sat down for an interview with Fox Business to discuss his company's bitcoin buying pause and estimates on the bear market duration.
In the conversation, Le explained that the decision to sell bitcoin and halt new purchases is not related to its price. He mentioned that over the course of this year, Strategy has bought 175,000 BTC, sold 7,000 BTC, and increased their dollar reserve from $800 million to $4.75 billion.
Le emphasized that the focus is on serving shareholders, stating, "It's not about the price, it's about what we're doing for our shareholders."
The CEO also weighed in on the current bear cycle, estimating that it will last around eight months. He drew comparisons to 2022, when the downturn lasted roughly from May 2022 to early 2023.