Strategy (NASDAQ:MSTR) CEO Phong Le says the company's recent Bitcoin (CRYPTO: BTC) selling is part of a deliberate effort to build its U.S. dollar reserves before eventually returning to accumulation.
MSTR Has Purchased 25 Times As Much It Sold Strategy sold more than 1,600 Bitcoin for over $108 million at an average price of roughly $64,200, marking its second consecutive week of BTC sales and seventh straight week without a purchase.
However, the company has bought about 25 times as much Bitcoin as it has sold during the period.
"We'll get back to buying more Bitcoin throughout the course of the year," Strategy CEO Phong Le said in a FOX Business interview on Aug. 10.
The decision isn't primarily driven by Bitcoin's price, according to the CEO.
