Strategy CEO: We’re Buyers of Bitcoin Long-Term
Speakers
Phong Le
— President & CEO, MicroStrategy
Summary
Strategy Inc. CEO Phong Le explains the company's evolution into a comprehensive digital capital platform holding over 840,000 Bitcoin and $3 billion in cash. He outlines plans to return the preferred shares (stretch) to par through building dollar reserves, and reiterates Strategy's long-term commitment to being a buyer of Bitcoin. Le also addresses the resilience of its capital structure through bear cycles and the dual focus on its software business.
- Strategy now holds over 840,000 Bitcoin and $3 billion in cash after a stock sale.
- The company has temporarily halted Bitcoin sales between July 6 and July 12.
- CEO Phong Le views Strategy as a comprehensive digital capital platform beyond a Bitcoin treasury.
- Plans to return the preferred shares (STRK) to par via building dollar reserves and possible share issuance.
- Expects to resume Bitcoin purchases when preferred shares reach par, using proceeds to accumulate more Bitcoin.
- Strategy is committed to being a long-term Bitcoin buyer, unfazed by bear cycles.
- The common stock (MSTR) is designed to outperform Bitcoin over time, with management focusing on Bitcoin per share accretion.
- The software business remains a significant part of Strategy, with over 1,500 employees and 25 years of public company experience.
Ideas
Preferred shares poised to recover par.
Strategy's preferred shares (stretch) are trading below par, and the company is actively building its US dollar reserve, increasing the dividend, and establishing a track record to drive the price back to par, which will then allow issuance to buy more Bitcoin and be accretive to Bitcoin per share.
Perpetual Bitcoin buyer through bear cycles.
Strategy will continue to be a long-term buyer of Bitcoin, leveraging its $3 billion cash reserve and future capital issuance plans to accumulate more even through bear cycles, because Bitcoin has never gone to zero in its 18-year history and the company is excited about the next bull market.
MSTR built to outperform Bitcoin long-term.
Strategy's common stock (MSTR) is designed to outperform Bitcoin over time, with the stock typically moving up more than Bitcoin in bull markets and down less in bear cycles, and the management's capital allocation keeps the price above net asset value, reflecting market credit for execution.
Up Next
This Bloomberg Markets video, published July 15, 2026, features Phong Le discussing STRK, BTC, MSTR. 3 trade ideas extracted by AI with direction and confidence scoring.