Strategy to Resume Bitcoin Purchases Later This Year
Strategy CEO Phong Le says his company will start buying Bitcoin again later in the year.
The recent pause in Bitcoin purchases is due to Strategy's goal of increasing its dollar reserves, not the $BTC price. In fact, Strategy has sold over 1,600 Bitcoins for a total of over $108 million in two consecutive weeks, with an average price per Bitcoin of approximately $64,200.
Strategy holds 840,000 $BTC on its balance sheet and has increased its Bitcoin holdings by 25 percent this year. Le stated that the company had bought 175,000 Bitcoin and sold 7,000 Bitcoin since the beginning of the year, with the amount bought being approximately 25 times the amount sold.
Le noted that Strategy's dollar reserves have increased from approximately $800 million to $4.75 billion. He emphasized that no specific price level is expected for new purchases, and that the timing depends on whether the transaction is value-enhancing for ordinary shareholders.