Sold 'Minuscule' Amount of Bitcoin: Strategy CEO

Phong Le, CEO of Strategy, defends resuming Bitcoin purchases after a 10-week pause and balance-sheet overhaul. He says Strategy now has a fortress balance sheet with zero net debt and stronger equity value, making it profitable to sell MSTR at a premium and buy Bitcoin. He also states Strategy is a net accumulator expecting a heavy Bitcoin bull market, and pushes back on an MSCI proposal affecting digital asset treasury companies. - Strategy paused Bitcoin buying to shore up its balance sheet, increasing assets by 34% and reducing net debt to zero. - Phong Le says the roughly 7,000 Bitcoin sold to fund stretch dividends was less than 1% of holdings. - Strategy describes itself as a two-way capital manager but remains a net Bitcoin accumulator. - He expects a heavy Bitcoin bull market and says Strategy will likely buy at $80k, $90k, $100k, $130k, and higher. - He calls selling MSTR at a premium to buy Bitcoin the right current trade. - Strategy raised $20B in equity and was the #4 US equity capital raiser despite a Bitcoin bear market. - He criticizes MSCI's proposal to exclude nonoperating asset companies, arguing Bitcoin is an operating asset under SEC/FASB standards.