Strategy CEO Sees Opportunity Amidst Bear Market
Strategy CEO Phong Le remains confident in his company's long-term Bitcoin strategy despite recent sales and heavy market losses. Speaking to CNBC, Le described the current market as another Bitcoin bear cycle, saying Strategy has successfully navigated previous downturns.
'We'll get through this bear market,' he said, adding that the firm will continue adjusting its capital structure whenever needed. Strategy recently sold 1,638 BTC for about $104.7 million while repurchasing 912,143 STRC preferred shares worth $81.2 million.
Le confirmed the company is willing to sell Bitcoin whenever it benefits the business, suggesting similar sales could continue in the future. So far this year, Strategy has sold 3,620 BTC, marking a notable shift from its previous 'never sell' reputation.
The company currently holds around $3.75 billion in cash, enough to cover more than two years of dividend and interest obligations. Le insisted that despite recent sales, Strategy remains fully committed to Bitcoin, with over 843,000 BTC worth roughly $58 billion making it the world's largest institutional Bitcoin holder.