Strategy acquires 4,603 BTC at $80,318, holdings reach $65 billion

CEO explains capital-driven decisions

Strategy CEO Phong Le addressed the firm’s recent actions in an interview with Bloomberg TV, outlining the financial logic behind both the sale and the subsequent purchase of BTC. The company first sold about 7,000 BTC when prices ranged between $60,000 and $65,000. It then returned to the market to repurchase Bitcoin at a significantly higher value of $80,000.

Le emphasized that “it’s not about the Bitcoin price; it’s about capital cost and finance requirement.” He explained that the sale provided funds for dividends related to Strategy’s preferred stock, while the decision to buy again at a higher price aligned with the company’s broader financial strategy.

Le stated that these decisions were driven mainly by considerations of capital allocation and financial requirements, not short-term price movements. After pausing acquisitions for nearly 10 weeks to prioritize improving its balance sheet, Strategy reduced its net debt from $7 billion to zero and increased its cash reserves to nearly $7 billion.

Two-way Bitcoin accumulation strategy

Strategy is primarily focused on accumulating Bitcoin over time. Le described the company’s evolving approach as a “two-way strategy” that enables both ongoing purchases and selective sales to address financing and dividend needs. Despite selling a portion of its holdings, the most recent sale represented less than 1% of Strategy’s total Bitcoin reserves.

According to Le, the company has managed to amass 30% more Bitcoin so far this year. This approach, he suggests, provides greater flexibility as Strategy adapts to changing financing conditions. Even if Bitcoin rises to $90,000, $100,000, or even $130,000, Le maintained that further accumulation would be based on capital economics rather than pure price speculation.

Mini dictionary: Strategy is a publicly traded company specializing in digital asset accumulation and treasury management, with a strong focus on acquiring and holding Bitcoin over the long term.

Market impact and analyst outlook

Following the recent acquisition, analysts at financial services firm Bernstein maintained an Outperform rating on Strategy but adjusted their price target from $450 to $350. These analysts forecast that Bitcoin may reach $150,000 by mid-2027. The future direction for Strategy will depend on its ability to balance further Bitcoin accumulation, manage financing costs, maintain sufficient cash reserves, and address dividend obligations.

Le confirmed that Strategy remains committed to accumulating BTC, while retaining the capacity to liquidate assets if financial needs arise. The company’s flexible approach continues to shape its role as a leading institutional player in the cryptocurrency sector.

BTC price update

At the time of reporting, Bitcoin traded at $76,766, reflecting a 1.70% decline in the last 24 hours. Its 24-hour trading volume reached $66.03 billion, and its market capitalization stood at $1.54 trillion.

Strategy plans to keep increasing its Bitcoin exposure, while also retaining maneuverability to sell portions as needed to address financial requirements.