Strategy CEO Defends Bitcoin Buy-Sell Decisions Based on Capital Costs

Strategy CEO Phong Le has defended the company's seemingly contradictory Bitcoin transactions, explaining that selling the cryptocurrency near $60,000 and later buying it at approximately $80,000 were both financially sound decisions based on the company's cost of capital, not on predicting Bitcoin's price movements. In a Bloomberg interview on September 1, Le outlined a "two-way" treasury strategy that marks a shift for the firm, which was previously known for only accumulating Bitcoin. The company's latest regulatory filing shows Strategy purchased 4,603 Bitcoin for $369.7 million between August 24 and August 30, at an average price of $80,318.