NEW YORK — Strategy CEO Phong Le said the company plans to resume Bitcoin accumulation later this year, reaffirming the firm's long-term conviction in the asset after a string of tactical sales drew scrutiny from the market.
The firm has purchased 175,000 BTC and sold 7,000 BTC since Jan. 1, making it a net buyer of 25 times more Bitcoin than it sold. Strategy now holds over 840,000 BTC, positioning it as the largest institutional Bitcoin holder globally — a ranking it previously did not hold.
Strategy made four Bitcoin sales since May. The most recent totaled 1,690 BTC. The company used proceeds to cover preferred stock dividends, share repurchases and its U.S. dollar reserve, balancing its Bitcoin treasury approach against public company obligations.
Le said Strategy will resume purchases once its STRC preferred stock returns to par value, setting a concrete trigger for the next accumulation phase.
The corporate Bitcoin treasury model is under pressure. Weaker market conditions are straining the economics that drove its expansion. Public companies collectively hold over 1.26 million BTC, while exchange-traded funds and other investment vehicles hold more than 1.6 million BTC.
Historically, companies with Bitcoin treasuries traded at premiums to their BTC holdings, letting them raise capital through equity or debt and deploy proceeds into more Bitcoin. That cycle breaks down when a company trades below the net asset value of its holdings — new capital raises dilute existing shareholders without a premium to justify the trade.
Le gave these details in a Monday interview with FOX Business.
