Strategy Sells 1,638 Bitcoins Amid Bear Market, Eyes Future Recovery
Strategy, a Bitcoin treasury company and largest corporate holder of Bitcoin, has sold 1,638 Bitcoins worth $104.7 million to reduce its exposure to the bear market.
In an interview with CNBC, CEO Phong Le stated that Strategy will continue to manage its capital structure by rotating into Bitcoin during bull runs and selling it when necessary to navigate through bear markets.
The company's stock has declined nearly 40% year-to-date and 80% since November 2024, but Le remains optimistic about the future of the cryptocurrency market.
Strategy started buying Bitcoin in August 2020 as a hedge against inflation, generating better returns for its shareholders. Despite posting an $8.22 billion loss for the second quarter of 2026, Le believes that next year will see the company's stock soar again.