Strategy Sells Bitcoin Stash Amid Bear Market
Strategy, a Nasdaq-listed company and largest corporate holder of Bitcoin, has sold 1,638 Bitcoins for $104.7 million and bought back 912,143 shares of its preferred stock, STRC, for $81.2 million. Despite the sale, Strategy's CEO Phong Le is confident that the company will 'get through this bear market.'
Le attributed the current downturn to external macroeconomic factors and noted that Strategy has navigated similar situations before. The company started buying Bitcoin in August 2020 as a hedge against inflation and now holds 842,138 coins worth $53.8 billion.
In its quarterly earnings last week, Strategy posted an $8.22 billion loss for the second quarter of 2026. However, Le emphasized that this 'paper loss' is not significant in the long term and that next year, the company's stock will 'soar again.'