Strategy CEO Called Selling Bitcoin Before the Asset’s Rally the Right Decision

• Phong Le gave an interview to Bloomberg Television, explaining changes in Strategy’s portfolio.
• He said that capital management does not depend on bitcoin’s price swings.
• Strategy sold assets at $64,000 and bought at $80,000.

In early August 2026, Strategy, the largest corporate holder of the first cryptocurrency, sold a total of 3,328 BTC at an average price slightly above $64,000, according to Saylor Tracker. After that, the asset posted a sharp rally, but the company’s CEO Phong Le still believes the sale was the right decision.

In an interview with Bloomberg Television, he said the following:

“We basically don’t make bitcoin decisions based directly on its price. What were we doing for the last two months while we weren’t buying bitcoin? We were strengthening our balance sheet. […] At that time, it was the right trade — to sell bitcoin to fund part of the dividend payments on our preferred instruments. And now the right trade is to sell MSTR at a premium and use those proceeds to buy bitcoin.”

According to Saylor Tracker, in early August Strategy executed two bitcoin sales totaling 3,328 BTC. The average sale prices were $63,960 and $64,260.

In late August, the company ended a buying pause that lasted about 10 weeks. It added to its portfolio with 4,603 BTC at an average price of $80,318.

For the portfolio overall, the average cost basis is $75,678. At the time of writing, bitcoin is trading at $76,500, with a slight pullback amid escalating conflict in the Middle East.

This means Strategy’s portfolio is in unrealized profit territory.

Asked by the hosts whether the company would return to a one-way crypto-asset holding strategy, Phong replied:

“No, it’s a two-way strategy. There will be times when it makes sense to sell bitcoin.”

He also touched on Strategy’s operating status:

“A company that can only accumulate an asset isn’t really a fully fledged operating company. An organization that can buy and sell bitcoin, buy and sell its own equity, and work with preferred instruments — that’s a fully fledged operating company with two-way capital management. That’s exactly the kind of company we are.” 

This remark primarily relates to the situation with MSCI benchmarks. The latter is once again trying to remove crypto treasuries from its indexes, while Strategy opposes this. 

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