Strategy CEO Phong Le Says Bitcoin Accumulation Will Continue Later This Year. Is It Time to Give MSTR Stock Another Chance?
Strategy is no longer buying Bitcoin. That should concern investors.
Strategy CEO Phong Le has stated that the company's Bitcoin accumulation will continue later this year. Since June 22, MicroStrategy (NASDAQ: MSTR) has only sold Bitcoin four times, despite not purchasing any new Bitcoin during this period. CEO Le explained that accumulation will resume once the company strengthens its balance sheet and boosts the value of its STRC (NASDAQ: STRC) preferred stock offering.
In June, MicroStrategy announced a new capital management plan aimed at improving the company's financial position due to the declining price of Bitcoin. This plan includes a willingness to sell Bitcoin when necessary, a change from the company's previous stance of never selling Bitcoin.
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