Bitcoin Was it a mistake to sell at $62,200? Strategy responds without beating around the bush.
Strategy sold 6,916 bitcoins at an average price of around $62,200 between late June and mid-August. A few weeks later, the company repurchased 4,603 at $80,318 each. A deal that looks like the classic “sell low, buy back high.” However, its CEO, Phong Le, regrets nothing: the price of Bitcoin was not the priority. First, it had to strengthen its balance sheet.
Strategy sold 6,916 BTC at an average of around $62,200.
The company has just repurchased 4,603 at $80,318.
Its reserves now reach 845,050 bitcoins.
Bitcoin at $62,200, a sale that was assumed
Strategy no longer hides its sales. In August, people were already talking about a transfer of 1,690 bitcoins intended to strengthen its financial structure. In total, the company sold 6,916 BTC in four transactions between late June and mid-August.
Average price: around $62,200. After that, Bitcoin rose. Last week, Strategy spent $369.7 million to buy 4,603 BTC at an average price of $80,318.
The difference is more than $18,000 per bitcoin. Phong Le admits it. The CEO explains that Strategy does not decide to sell or buy by trying to predict the next move of BTC. At the time of the sales, the company needed to finance dividends on its preferred shares, STRC.
Strategy sold 6,916 bitcoins at an average price of around $62,200 between late June and mid-August. A few weeks later, the company repurchased 4,603 at $80,318 each. A deal that looks like the classic “sell low, buy back high.” However, its CEO, Phong Le, regrets nothing: the price of Bitcoin was not the priority. First, it had to strengthen its balance sheet.
Strategy sold 6,916 BTC at an average of around $62,200.
The company has just repurchased 4,603 at $80,318.
Its reserves now reach 845,050 bitcoins.
Bitcoin at $62,200, a sale that was assumed
Strategy no longer hides its sales. In August, people were already talking about a transfer of 1,690 bitcoins intended to strengthen its financial structure. In total, the company sold 6,916 BTC in four transactions between late June and mid-August.
Average price: around $62,200. After that, Bitcoin rose. Last week, Strategy spent $369.7 million to buy 4,603 BTC at an average price of $80,318.
The difference is more than $18,000 per bitcoin. Phong Le admits it. The CEO explains that Strategy does not decide to sell or buy by trying to predict the next move of BTC. At the time of the sales, the company needed to finance dividends on its preferred shares, STRC.
