- Strategy CEO Phong Le defended buying Bitcoin near $80,000 after selling in the $60,000 range, calling it the “right trade.”
- Le said the company’s balance sheet grew to $72 billion in assets over two months, including $65 billion in Bitcoin and $7 billion in dollar reserves.
- Alliance Global initiated coverage of Strategy with a ‘Buy’ rating and a $217 price target, citing the firm’s 845,050 Bitcoin holdings.
Strategy CEO Phong Le defended the company’s decision to sell Bitcoin near $60,000 and then buy again near $80,000, describing it as the “right trade” during a Bloomberg interview on Tuesday. Le argued that the firm does not base Bitcoin decisions on price alone, pointing instead to its rapidly strengthened balance sheet.
Over the past two months, Strategy grew total assets to $72 billion, including $65 billion in Bitcoin and $7 billion in dollar reserves — a 34% increase. Le said this gave the company flexibility to sell MSTR shares at a premium and reinvest proceeds into Bitcoin.
The roughly 7,000 Bitcoin sold — less than 1% of holdings — funded preferred dividends and buybacks, not a retreat from accumulation. Le described the approach as a “two-way strategy”, adding that a company unwilling to sell Bitcoin was not a “true operating” business.
Meanwhile, Alliance Global initiated coverage of Strategy with a ‘Buy’ rating and a $217 price target, noting the firm’s 845,050 Bitcoin holdings represent about 4% of total supply. The analyst expects a Bitcoin bull run over the next six to 18 months as scarcity and regulatory clarity build.
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