Strategy CEO defends selling BTC at $60K, buying at $80K

Strategy CEO defends selling BTC at $60K, buying at $80K

Strategy CEO Phong Le says capital costs justified selling Bitcoin near $60,000 before buying 4,603 BTC at an average $80,318.

Strategy CEO Phong Le: Both $60K Bitcoin Sale and $80K Rebuy Were Right Calls

TLDR: Strategy sold 7,000 BTC near $60K to fund preferred dividends, calling it the right trade. Net debt fell from $7 billion to zero while dollar reserves grew to $7 billion. Total assets reached $72 billion, including $65 billion in Bitcoin holdings. Strategy opposes MSCI’s proposal to exclude firms with non-operating assets from stock indexes. [...] The post Strategy CEO Phong Le: Both $60K Bitcoin Sale and $80K Rebuy Were Right Calls appear…

Strategy CEO Defends Bitcoin Sale And Rebuy: 'Both Were The Right Calls At The Time'

BitcoinWorld Strategy CEO defends Bitcoin sale and rebuy: ‘Both were the right calls at the time’ Michael Saylor’s Strategy (formerly MicroStrategy) has drawn attention for selling Bitcoin in the low-$60,000 range and then repurchasing it at higher prices, but CEO Phong Le says the moves were justified by the company’s funding costs, not just the market price. In a Bloomberg TV interview cited by Wu Blockchain, Le explained that the decision […]…