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Strategy CEO defends selling bitcoin near $60,000 to fund dividends

Strategy sold about 7,000 BTC at roughly $60,000 to $65,000, then resumed buying near $80,000 after pausing purchases for about 10 weeks to rebuild cash reserves.

Reported · Written up by our desk · Market Structure

Strategy CEO Phong Le defended the company’s decision to sell about 7,000 BTC at approximately $60,000 to $65,000 before it resumed buying at around $80,000, saying the trades were driven by corporate capital costs rather than a view on bitcoin’s price, The Block reports.

Le said the bitcoin sales were used to fund preferred dividends and that the company paused bitcoin purchases for about 10 weeks to shore up its balance sheet. He added that Strategy reduced net debt from roughly $7 billion to zero and built about $7 billion in cash reserves.

After the pause, Strategy bought 4,603 BTC for about $369.7 million at an average price of $80,318 last week, bringing its holdings to 845,050 BTC, worth roughly $65 billion at current prices. Le said the company remains a “net accumulator” but has shifted to a “two-way strategy,” selling bitcoin when needed to meet obligations.

Le also indicated that bitcoin purchases could continue at higher levels if the capital economics remain attractive, including scenarios at $90,000, $100,000, or even $130,000. The Block notes that Bernstein maintained an Outperform rating on Strategy but cut its price target to $350 from $450, while forecasting bitcoin at $150,000 by mid-2027.

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