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BTC Strategy increased its holdings by 4,603 bitcoins, bringing its total holdings to 845,050, worth approximately US$65 billion.
As one of the largest corporate holders of Bitcoin, Strategy recently increased its reserves by 4,603 bitcoins, bringing its total holdings to 845,050, worth approximately US$65 billion. After briefly selling some of its holdings, the company completed the purchase at an average price of $80,318 each.
CEO analyzes capital-driven decision-making
Strategy CEO Phong Le talked about the company's recent operations in an interview with Bloomberg TV and explained the financial logic behind the sale and subsequent repurchase of Bitcoin. The company first sold about 7,000 bitcoins in the price range of US$60,000 to US$65,000, and then returned to the market for repurchase when the price rose to US$80,000.
Le emphasized: "This is not about the price of bitcoin, but about the cost of capital and financing needs." He explained that selling Bitcoin provided funds for dividends related to Strategy's preferred stock, and that the decision to buy back at a higher price was consistent with the company's broader financial strategy.
Le pointed out that these decisions are mainly based on capital allocation and financial needs considerations, rather than short-term price fluctuations. After suspending acquisitions for nearly 10 weeks to prioritize improving its balance sheet, Strategy reduced net debt to zero from $7 billion and increased its cash reserves to nearly $7 billion.
Two-way Bitcoin accumulation strategy
Strategy's core goal is to continue to accumulate Bitcoin over the long term. Le described the company's evolving strategy as a "two-way strategy" that allows both continuous purchases and selective sales to respond to financing and dividend needs. Although some positions were sold, the most recent sale accounted for less than 1% of Strategy's total Bitcoin reserves.
According to Le, the company has successfully increased its holdings of Bitcoin by 30% this year. He said this approach provides Strategy with greater flexibility to adapt to the changing financing environment. Even if the price of Bitcoin rises to $90,000,$100,000 or even $130,000, Le insists that further accumulation will be based on capital economics rather than pure price speculation.
Small Dictionary
Strategy is a publicly listed company focusing on digital asset accumulation and fund management, and has long been committed to acquiring and holding Bitcoin.
Market Impact and Analyst Outlook
Analysts at financial services firm Bernstein maintained their "outperform" rating on Strategy after the recent acquisition, but lowered their price target to $350 from $450. These analysts predict that Bitcoin could reach $150,000 by mid-2027. Strategy's future direction will depend on its ability to strike a balance between further accumulating bitcoin, managing financing costs, maintaining sufficient cash reserves, and fulfilling its dividend obligations.
According to company financial data, net debt dropped from US$7 billion to zero, cash reserves increased from 0 to US$7 billion, and Bitcoin holdings (before the latest purchase) were 845,050.
Le confirmed that Strategy remains committed to accumulating Bitcoin while retaining the ability to liquidate assets when needed. The company's flexible strategy continues to shape its role as a leading institutional player in the cryptocurrency space.
Bitcoin Price Update
As of the time of report, Bitcoin was trading at US$76,766, down 1.70% in the past 24 hours. Its 24-hour trading volume reached US$66.03 billion and its market value was US$1.54 trillion.
Strategy plans to continue to increase its Bitcoin exposure while retaining the flexibility to sell some of its positions if necessary to meet financial needs.
