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Strategy CEO says company will resume Bitcoin accumulation later this year

Strategy said it bought about 175,000 Bitcoin since the start of the year while selling about 7,000, or roughly 25 times as much it has sold.

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Cointelegraph reports that Strategy CEO Phong Le said the company will resume accumulating Bitcoin later this year, even after changing business priorities led it to sell portions of its holdings.

In an interview with FOX Business, Le said Strategy purchased around 175,000 Bitcoin since the beginning of the year and sold roughly 7,000 BTC, describing the gap as about 25 times more buying than selling. He added that the company has shifted from being the world’s second-largest institutional Bitcoin holder to the largest.

Le said Strategy has accumulated more than 840,000 BTC in total, but it has sold Bitcoin on four occasions since May, with the most recent sale totaling 1,690 BTC. Proceeds from those sales were used to support preferred stock dividends, share repurchases, and its US dollar reserve, Cointelegraph said.

Cointelegraph also noted that Strategy has faced scrutiny for departing from its longstanding “never sell” approach, highlighting the pressure of shareholder obligations and the economics of the corporate Bitcoin treasury model in weaker market conditions. It added that public companies hold more than 1.26 million BTC, while ETFs and other funds hold more than 1.6 million BTC, citing BitcoinTreasuries.NET.

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