Strategy CEO: The company will not stop buying Bitcoin; only when BTC falls below $10k do we need to worry about debt

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PANews July 16, citing The Block, reported that Strategy President and CEO Phong Le said in a Bloomberg Television interview that the company will not stop buying Bitcoin—“our goal in the foreseeable future is to become the largest Bitcoin buyer.” He said they only need to consider debt risk when Bitcoin drops to around $8,000–$10,000, and that the current balance sheet is “very reassuring.”

Le said that the recent sale of more than $215 million worth of Bitcoin and increasing cash reserves to $3 billion were to meet preferred shareholders’ demand for short-term liquidity, and to demonstrate the liquidity of the company’s Bitcoin holdings. Once STRC returns to its $100 par value, the company will issue more preferred shares to buy Bitcoin. Strategy’s price-to-book multiple has rebounded to about 1.02 after falling below 1; currently, BTC is trading near $65,000.

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