Strategy CEO Phong Le said the company does not base its decisions on the specific price of bitcoin. Strategy went roughly two months between purchases and spent that time strengthening its balance sheet rather than adding bitcoin. The firm now holds total assets of $72 billion, composed of $65 billion in bitcoin and $7 billion in dollar reserves. Dollar reserves rose 34% over the two-month stretch, while net debt was cut to zero from about $7 billion. Phong Le said the stronger balance sheet raised Strategy's equity value and made selling MSTR shares and buying bitcoin more profitable. Last week, Strategy resumed bitcoin purchases for the first time in two months. The latest purchase came after the company had focused on improving its financial position during a period with no bitcoin buying.
Strategy CEO Phong Le said in an interview that the company does not make decisions based on the specific price of bitcoin. During the roughly two months between purchases, Strategy refrained from buying bitcoin and instead strengthened its balance sheet.
The company's total assets have reached $72 billion, made up of $65 billion in bitcoin and $7 billion in dollar reserves. Dollar reserves increased by 34% over that period, while net debt dropped to zero from about $7 billion.
Phong Le said the stronger balance sheet improved Strategy's equity value and made selling MSTR shares to buy bitcoin more profitable. Last week, Strategy bought bitcoin again for the first time in two months.
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