Strategy CEO Phong Le has reiterated the company's commitment to acquiring Bitcoin, aiming to become the largest buyer of the cryptocurrency. In an interview with Bloomberg TV, Le stated that debt concerns would only arise if Bitcoin's price falls to between $8,000 and $10,000. Currently, the company is "very comfortable" with its financial position.
Le explained that the recent sale of over $215 million in Bitcoin and the bolstering of cash reserves to $3 billion were measures taken to satisfy preferred shareholders' demands for short-term liquidity and to showcase the liquidity of the company's Bitcoin assets. Strategy plans to issue more preferred shares to fund further Bitcoin purchases once its stock returns to a $100 par value. The company's price-to-book ratio has improved to approximately 1.02, with Bitcoin trading near $65,000.
Strategy CEO Affirms Continued Bitcoin Purchases, Debt Concerns Only Below $10,000
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