Phong Le

Strategy's CEO Phong Le stated the company will navigate the current Bitcoin bear market by actively managing its capital structure. The Nasdaq-listed firm sold 1,638 Bitcoins and repurchased shares, holding 842,138 Bitcoins worth $53.8 billion as its largest corporate Bitcoin stash.

Bitcoin Magazine Strategy sold 1,638 BTC ($104.7 million) to fund preferred stock dividends and buybacks, continuing a pattern of Bitcoin sales for cash management. The company also sold 3.01 million MSTR shares ($290.6 million) and maintains a Bitcoin treasury of 842,138 coins valued at $54 billion.

Bitcoin Treasury Strategy (MSTR) skipped purchasing Bitcoin for the fifth consecutive time, instead using $25 million to buy back its Stretch (STRC) preferred stock. The company sold 5.4 million MSTR shares, generating $544.5 million in proceeds, and maintains 843,775 Bitcoins on its balance sheet. CEO Phong Le affirmed the company’s long-term commitment to Bitcoin despite the pause in new purchases.

Strategy (MSTR) sold $263.5 million in MSTR shares between July 13 and July 19, boosting its USD reserve to $3.225 billion. The company made no Bitcoin purchases or sales during the period, maintaining a Bitcoin stack of 843,775 BTC worth $54.7 billion. Management emphasized building a cash buffer against debt while signaling continued long-term Bitcoin buying intentions.

The Bitcoin treasury giant will issue fresh preferred stock and resume buying Stretch shares once they return to par, according to CEO Phong Le.

Strategy (MSTR) retired $1.5 billion in convertible debt at an 8% discount, saving $120 million, while increasing its Bitcoin holdings to 843,738 BTC. The move reflects aggressive capital management and generated a $333 million BTC Dollar Gain from the bond buyback.

Strategy spent $2 billion on additional Bitcoin, increasing its holdings to 843,738 BTC, cementing its position as the world's largest corporate Bitcoin treasury. The purchase marks a significant acceleration from the company's previous disclosed buy. Strategy's Bitcoin treasury now carries a market value of over $67 billion.

Strategy purchased $43 million more Bitcoin, increasing its holdings to 818,869 BTC, despite potential sales. The company's executive chairman, Michael Saylor, defended the strategy, stating that for every bitcoin sold, they would buy 10 to 20 more. This move comes after a 23% drop in Bitcoin's value in Q1 2026.

Strategy CEO Phong Le stated that the company will only sell Bitcoin in specific cases, and its sales will not impact the market despite owning over 4% of the maximum supply. The company's Bitcoin holdings are significant, but their sale strategy is cautious. This approach aims to minimize market disruption.

Strategy Inc., formerly MicroStrategy, reported a Q1 2026 operating loss of $14.47 billion, but signaled a strategic pivot to sell portions of its Bitcoin holdings, marking a departure from its long-standing 'never sell' narrative. The company holds 818,334 BTC and has raised ~$11.7 billion year-to-date. This move is expected to unlock a $2.2 billion tax benefit.

Strategy and Blockstream CEOs Phong Le and Adam Back discussed Bitcoin's role in reshaping financial systems, highlighting Strategy's Bitcoin holdings, digital credit products like STRC, and tokenization as key drivers. They emphasized institutional adoption, DeFi integration, and Bitcoin's alignment with cypherpunk ideals.

Morgan Stanley's spot Bitcoin ETF has accumulated over $139 million in assets within nine days, driven by institutional demand and a competitive 14 basis point fee. Analysts suggest a modest 2% allocation across the firm's $8 trillion wealth platform could unlock $160 billion in Bitcoin demand, surpassing existing ETFs like BlackRock's iShares Bitcoin Trust.