Strategy CEO Phong Le defended the company’s early August 2026 bitcoin sales in an interview with Bloomberg Television, saying they were the right decision at the time. The transactions helped fund dividend payments on preferred instruments and reflected what Le described as Strategy’s two-way approach to capital management.

Strategy, the largest corporate holder of bitcoin, sold a total of 3,328 BTC in early August at an average price slightly above $64,000, according to Saylor Tracker. Bitcoin subsequently rallied, but Le still said the company had made the right trade.

“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.”

Strategy resumes bitcoin purchases

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

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

Saylor Tracker put Strategy’s overall average bitcoin cost basis at $75,678. At the time of writing, bitcoin was trading at $76,500 after a slight pullback amid escalating conflict in the Middle East, leaving the company’s portfolio with an unrealized profit.

Le describes a two-way strategy

Asked whether Strategy would return to a one-way approach focused solely on holding the crypto asset, Le replied:

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

Le also addressed Strategy’s status as an operating company:

“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.”

The remarks primarily relate to the dispute over MSCI benchmarks. MSCI is again seeking to remove crypto-treasury companies from its indexes, while Strategy opposes the move.

Source: Incrypted