According to The Block, Strategy ($MSTR) CEO Phong Le stated that the sale of approximately 7,000 BTC at prices between $60,000 and $65,000 was a "correct transaction" to raise funds for preferred stock dividends. Subsequently, Strategy repurchased 4,603 BTC at an average price of $80,318, totaling $369.7 million.
Strategy CEO Calls BTC Sale a 'Correct Trade' Amid Repurchase at Higher Price
TechFlowShare
Summary
Strategy CEO Phong Le described the BTC sale as a "correct trade" amid favorable price movement, as the company sold 7,000 BTC between $60,000 and $65,000 to fund preferred dividends. MSTR later repurchased 4,603 BTC at an average price of $80,318, spending $369.7 million. The move demonstrates a strong risk-to-reward ratio, with the company buying back at a higher price after the initial sale.
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