Phong Le said Strategy’s cost of capital—not Bitcoin’s price—drove its decision to sell nearly 7,000 BTC before buying again above $80,000.

Strategy resumes Bitcoin buying with a 4,603 BTC purchase for $369.7M, ending a 10-week pause. The company now holds roughly 840,447 BTC, about

Strategy CEO Phong Le defended selling bitcoin at $60,000 before buying at $80,000, citing corporate capital costs.