Morning Edition · Thursday, September 3, 2026Published at 1:55 AM EDT · New York

Strategy's Chief Executive Defends Selling Bitcoin Near 60,000 Dollars and Buying It Back Above 80,000

Phong Le said the roughly 7,000 coin sale funded preferred dividends and was driven by the cost of capital, as other listed holders cut, concentrate or expand their crypto positions.

Phong Le, chief executive of Strategy, defended the company's sale of roughly 7,000 bitcoin at prices near 60,000 to 65,000 dollars, calling it "the right trade at the time." The proceeds funded preferred dividends. Strategy resumed buying…