Strategy CEO defends selling Bitcoin for $60,000 and buying back it for $80,000, and the company red

Strategy CEO defends strategy of selling bitcoins for $60,000 and buying back bitcoins for $80,000

Strategy CEO Phong Le defended the company's decision to sell 7000 bitcoins for nearly $60,000 and subsequently buy back at about $80,000, saying both transactions were strategically reasonable. In a television interview, Le emphasized that the company's financial operations are based on capital management needs, rather than trying to grasp the price cycle of Bitcoin.

Capital Allocation and Bitcoin Sales

Le clarified that the sale of 7000 bitcoins (accounting for less than 1% of Strategy's total Bitcoin holdings) was to raise funds needed to raise preferred stock dividends. He saw it as a pragmatic choice and said the action was "the right deal at the time" and was based entirely on the company's balance sheet needs. He likened the process to companies financing large infrastructure projects through asset allocation, and pointed out that the motivation for the sale stems from internal demand rather than a prediction of Bitcoin price trends. By using bitcoin reserves to meet immediate capital needs, the company emphasizes an approach that focuses on financial discipline rather than market speculation.

After the sale, Strategy reduced net debt from $7 billion to zero in about two months. During the same period, the company increased its U.S. dollar reserves to US$7 billion.

Restart the strategy of increasing holdings

After its balance sheet was strengthened, Strategy restarted Bitcoin purchases at prices close to $80,000 and again applied cost of capital analysis. Le explained that the company's financing activities, including strategic sales of shares at a premium, allowed it to further increase its exposure to Bitcoin assets. He pointed out that this approach is dynamic and aims to optimize resources based on changes in conditions, rather than simply increasing Bitcoin holdings in one direction. Le explained: "Selling at $60,000 is to meet capital needs, and buying at $80,000 is in line with our long-term shareholding plan once reserve reconstruction is complete."

Le emphasized the importance of disciplined capital allocation and reiterated that Strategy's philosophy is not market timing, but to strengthen the company's overall financial position through prudent management of assets and liabilities. Le said that if favorable conditions persist, the company may continue to buy Bitcoin at higher prices, noting that target prices of $90,000,$100,000 or even $130,000 could be.

Policy stance and market integration

In addition to elaborating on the company's operating priorities, Le also talked about the ongoing controversy with major equity index provider MSCI. He and Michael Saylor have formally opposed MSCI's proposal to exclude companies with large non-operating assets from global indices-a criterion that would affect companies investing in Bitcoin. Strategy believes that current accounting standards have classified Bitcoin's profits and losses as operating income, while assets such as oil and timber still maintain their operating asset status under existing index rules. The company said this showed inconsistencies that could undermine the fairness of capital markets.

Le confirmed that Strategy is actively participating in MSCI's feedback process on these potential changes and highlighted the company's key advantage of having financing capabilities in the broader financial markets. Strategy currently holds $6.7 billion in U.S. dollar reserves as part of its capital base.

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