Strategy CEO: company buys Bitcoin again later this year

Strategy will start buying Bitcoin again later this year. That is what CEO Phong Le said in an interview with FOX Business. The company recently sold part of its holdings, which raised questions in the market, but Le made clear that the purchase strategy remains unchanged.

In short:

• Strategy CEO Phong Le announces resumption of Bitcoin purchases later this year
• The company bought around 175,000 Bitcoin this year and sold roughly 7,000 BTC
• Proceeds from sales went to dividends, share buybacks and dollar reserves

Bitcoin is available at OKX and Bybit.

Bought far more than sold

Despite the fuss surrounding the recent sales, Le shows that the ratio between purchases and sales strongly favours buying. Since the start of this year, Strategy has bought roughly 25 times as much Bitcoin as it has sold: around 175,000 BTC purchased versus approximately 7,000 BTC sold.

The sales raise questions among investors, but Le explains that the proceeds have a specific purpose. The money goes toward distributions on preferred shares, the buyback of the company’s own shares and replenishing the company’s dollar reserves. According to Le, that is simply part of how Strategy manages its finances.

Purchases to resume

Le makes clear in the interview that the pause in purchases is temporary. Strategy plans to buy Bitcoin again for the rest of the year, indicating that the company’s course of holding Bitcoin as a core asset remains unchanged. At the time of writing, Bitcoin stands at $64K, a slight decline of 0.5% over the past 24 hours.

Strategy is thus one of the most active companies when it comes to building a large Bitcoin position. The fact that its strategy occasionally involves selling part of its holdings does not appear, according to Le, to be a sign of a change in direction, but rather a way to cover ongoing obligations without attracting external financing. The company will therefore simply continue with its strategy.