Strategy CEO Says Company Will Resume Bitcoin Buying Later This Year

Strategy CEO Phong Le said the company plans to resume accumulating Bitcoin later this year, even after recent sales drew market scrutiny. In an interview, Le noted that Strategy has purchased around 175,000 Bitcoin since the start of the year while selling roughly 7,000 BTC, making it a net buyer by a ratio of about 25 to one. He added that the company has grown from the world’s second-largest institutional Bitcoin holder to the largest during this period.

Sales Tied to Broader Capital Needs

While Strategy now holds more than 840,000 BTC, it has sold Bitcoin on four separate occasions since May, most recently offloading 1,690 BTC. Proceeds from these sales have gone toward supporting preferred stock dividends, share repurchases, and building up the company’s cash reserve. Despite the sales representing a small fraction of its overall holdings, the moves have drawn attention for departing from Strategy’s long-standing approach of never selling Bitcoin, highlighting the balancing act the company faces between its Bitcoin strategy and obligations to shareholders.

Corporate Bitcoin Treasury Model Faces Pressure

The broader corporate Bitcoin treasury model has come under strain as weaker market conditions challenge the financing dynamics that once fueled rapid expansion. Public companies collectively hold over 1.26 million BTC, trailing exchange-traded funds and other investment vehicles. The model has historically relied on treasury companies trading at a premium to their Bitcoin holdings, allowing them to raise capital and buy more Bitcoin, but this becomes far more difficult when share prices fall below the value of underlying holdings, making further fundraising increasingly dilutive to shareholders.