Strategy Inc. CEO Defends Bitcoin Sales and Buying Ahead of Bull Market

Phong Le, CEO of Strategy Inc., defended the company's decision to sell Bitcoin at lower price levels and buy it back at higher prices. During an interview with Bloomberg Television, Le stated that Strategy doesn't make decisions based on specific Bitcoin prices. Instead, they focus on strengthening their balance sheet, which makes it more profitable to sell shares and buy Bitcoin.

Le said the company's decision to sell Bitcoin in the $60,000 to $65,000 range was 'the right trade at the time' to fund stretch dividends. He also stated that selling Strategy Inc. (MSTR) shares at a premium to buy Bitcoin is the current 'right trade'. When asked if he foresaw more Bitcoin sales ahead of what he considers a 'pretty heavy bull market', Le replied, 'I don't foresee that.'

Le predicted that Strategy will continue buying Bitcoin at higher prices, stating they'll likely purchase it at $80,000, $90,000, and even as high as $130,000. The company recently resumed its Bitcoin purchases after a two-month hiatus, acquiring 4,603 BTC at an average price of $80,318 per coin.