Strategy CEO defends selling bitcoin at $60K before buying back at $80K

Strategy CEO Phong Le said the company’s decision to sell roughly 7,000 bitcoin (BTC) at $60,000–$65,000 before buying again at around $80,000 was the right move to fund dividends.

In a Bloomberg TV interview, Le explained the trades were based on capital costs, not bitcoin’s price. The company paused its bitcoin purchases for about 10 weeks to strengthen its balance sheet, reducing net debt from roughly $7 billion to zero and building about $7 billion in cash reserves.

Recent bitcoin purchases

Strategy bought 4,603 BTC for approximately $369.7 million at an average price of $80,318 last week. This increased its holdings to 845,050 BTC, worth roughly $65 billion at current prices.

Key points

• Strategy sold about 7,000 BTC (less than 1% of its holdings) to fund dividends.
• The company remains a net buyer of bitcoin but now uses a “two-way strategy,” allowing sales when needed.
• Le said Strategy could continue buying bitcoin at higher prices if capital economics remain favorable.
• Bitcoin was near $77,000 early Wednesday, down 1.1% over 24 hours.

What the CEO said

Le stated that selling bitcoin to fund dividends was the right decision at the time. He also noted that selling Strategy shares (MSTR) at a premium to buy more bitcoin made sense in the current market conditions.

Why it matters

The moves show how Strategy balances its bitcoin holdings with financial obligations, using sales to manage cash flow while maintaining a long-term focus on accumulating bitcoin.

Sources

• The Block