Morning Minute: Strategy CEO Says Selling The Bottom Was Correct Move
Strategy sold 6,916 BTC in late June to mid-August at about $62,200 average, then repurchased 4,603 BTC last week at about $80,318. CEO Phong Le said both moves were driven by financing needs, not Bitcoin price: the company sold to fund STRC dividends when share issuance became expensive, and bought again once MSTR traded at a premium. During the pause, it boosted assets to about $72 billion, built roughly $7 billion in dollar reserves, and reduced net debt from about $7 billion to zero. Le said the sale was under 1% of holdings and that Strategy’s bitcoin stack has risen 25% to 30% this year, now at 845,050 BTC worth about $65.4 billion. He framed Strategy as a “two-way capital management company” that buys and sells BTC, equity, and preferred stock depending on market conditions. The core issue is that its Bitcoin accumulation depends on stock premium, which in turn depends on Bitcoin.
