Strategy Chief Executive Officer Phong Le said in an interview that the company does not base its decisions on Bitcoin's specific price. Over the past two months, Strategy made no Bitcoin buys, although its balance sheet got stronger. Total assets stand at $72 billion, including $65 billion in Bitcoin and $7 billion in dollar reserves; the reserve portion rose 34% during the two-month period. Net debt dropped to zero from roughly $7 billion. Le said the stronger balance sheet raised Strategy's equity value and made selling MSTR shares to buy Bitcoin more profitable. The firm resumed Bitcoin purchases last week after roughly a two-month pause.
Strategy CEO Phong Le said in an interview the company won't make decisions based on whatever price Bitcoin happens to be trading at.
Last week Strategy bought Bitcoin again, its first purchase in two months. In the stretch without purchases, the company strengthened its balance sheet instead.
Current figures from Le put total assets at $72 billion: a $65 billion Bitcoin position plus $7 billion in dollar reserves. The reserve bucket grew 34% over the two months. Net debt moved to zero from roughly $7 billion.
Le argues the balance-sheet work gave Strategy's equity more value. It also makes the approach of selling MSTR shares and buying Bitcoin a more profitable one.
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