NEW YORK — Strategy CEO Phong Le confirmed the company plans to resume accumulating Bitcoin later this year, ending a brief period of net selling that drew scrutiny from market participants.
Since January, Strategy has purchased approximately 175,000 Bitcoin while selling roughly 7,000 BTC — a buying-to-selling ratio of about 25-to-one. The sales were tactical: proceeds went to fund preferred stock dividends, share repurchases and its U.S. dollar reserve, marking a departure from the firm's long-standing no-sell posture on Bitcoin.
Strategy's current holdings stand at 840,447 BTC. The firm sold 3,328 BTC for $213.3 million across two recent reporting periods, reducing its total from over 846,000 BTC.
Le also said the company has moved from the world's second-largest institutional Bitcoin holder to the largest.
"We are now the JPMorgan of the digital economy," Le said. "We will start buying Bitcoin again later in the year."
The corporate Bitcoin treasury model has faced pressure as weaker market conditions challenge the economics that fueled its rapid expansion. Companies that trade at a premium to their Bitcoin holdings can raise capital cheaply to buy more BTC. When they trade below net asset value, new capital raises become dilutive to existing shareholders — and the accumulation flywheel stalls.
Public companies collectively hold more than 1.26 million BTC, trailing exchange-traded funds and other funds, which hold over 1.6 million BTC, according to BitcoinTreasuries.NET.
