Strategy explains why it sold Bitcoin just before the price rose
Strategy CEO Phong Le commented on the company’s decision to sell about 7,000 Bitcoin at prices between $60,000 and $65,000 before resuming purchases at around $80,000. According to him, the decisions were driven not by the price of BTC itself, but by the cost of capital.
In an interview with Bloomberg TV, Le said the Bitcoin sales were justified by the need to fund dividends on the company’s Stretch preferred stock. At this point, he said, it is more attractive for Strategy to issue MSTR shares at a premium and use the proceeds to buy BTC.
Strategy paused Bitcoin purchases for about 10 weeks to strengthen its balance sheet. During that period, the company reduced net debt from roughly $7 billion to zero and built a cash reserve of about $7 billion.
Last week, Strategy purchased another 4,603 BTC for approximately $369.7 million. The average purchase price was $80,318 per coin. Following the deal, the company’s total holdings rose to 845,050 BTC, worth about $65 billion at current prices.
Strategy leaves the door open to further BTC sales
Phong Le stressed that Strategy remains a net accumulator of Bitcoin, but is now pursuing a more flexible approach. The company is prepared not only to buy BTC but also to sell part of its holdings when necessary to fund dividends and other obligations.
The roughly 7,000 BTC sold during the pause represented less than 1% of Strategy’s holdings. At the same time, the company has increased its Bitcoin reserves by about 30% since the start of the year.
Le also said Strategy is prepared to keep buying Bitcoin at $90,000, $100,000 or even $130,000 if the economics of raising capital remain attractive.
Why Strategy abandoned its old principle
Company founder Michael Saylor had repeatedly said for years that Strategy had no plans to sell its Bitcoin. Back in 2022, he said the company was not a seller of BTC and that its strategy was focused solely on buying and holding the asset. Even in February 2026, Saylor said Strategy would buy rather than sell if Bitcoin declined. That approach became a key part of the identity of the world’s largest corporate Bitcoin holder.
However, in 2026 the company changed that principle. Strategy first opened the door to selling part of its reserves to fund dividends and later began actually selling BTC. Saylor later clarified that his “never sell your Bitcoin” slogan was aimed primarily at individual holders, while Strategy, as a public company, must take shareholder interests and financial obligations into account. Its goal is now framed differently: not necessarily to never sell BTC, but to remain a net accumulator and end each year with more Bitcoin than it started with.
Earlier, Strategy paused Bitcoin purchases last month and sold $334 million worth of shares.
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