Strategy to Restart Bitcoin Purchases Later This Year
Strategy CEO Phong Le said the firm will resume buying Bitcoin later this year after selling small amounts to fund preferred dividends, share buybacks and a U.S. dollar reserve.
Strategy CEO Phong Le said the company will resume accumulating Bitcoin later this year after selling limited amounts earlier to cover preferred dividends, share repurchases and build a U.S. dollar reserve. He described the firm as a significant net buyer after large purchases since the start of the year.
Le reported that Strategy bought roughly 175,000 BTC year-to-date and sold about 7,000 BTC, making the company a net purchaser. “That’s about 25 times more buying than selling,” he said, and added, “We’ll get back to buying more Bitcoin throughout the course of the year.”
The company holds more than 840,000 BTC overall. Since May, Strategy sold Bitcoin on four occasions; the most recent sale totaled 1,690 BTC. Executives said proceeds from those sales funded preferred stock dividends, share repurchases and the U.S. dollar reserve.
The departures from the company’s prior “never sell” stance prompted questions from some investors. Management described the sales as tactical actions to balance public-company obligations to common and preferred shareholders with its goal of long-term Bitcoin accumulation.
Market data show public companies hold more than 1.26 million BTC while exchange-traded funds and other funds hold over 1.6 million BTC according to industry trackers. Analysts, including Novaque Research, have said the corporate Bitcoin treasury model benefited when companies traded at premiums to the value of on‑balance-sheet Bitcoin, allowing them to raise capital and buy more BTC. When companies trade below the net asset value of their holdings, raising new capital can be harder because new issuance may dilute existing shareholders.
Le emphasized that recent sales were not a strategic retreat from accumulation and that the company adjusted its capital framework temporarily to preserve Bitcoin exposure while meeting short-term cash needs. Management reiterated its plan to resume purchases later in the year as capital requirements and market conditions permit.
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