Strategy CEO Plans Bitcoin Purchases After Preferred Shares Recover
Strategy CEO Phong Le indicates the company will resume Bitcoin purchases once its preferred stock, known as Stretch (STRC), returns to a $100 value. The firm has paused buying since June while it raised $467 million to bolster its cash reserves. Le also mentions considering risks if Bitcoin falls to $10,000, according to Decrypt.
Strategy, a major player in Bitcoin treasury management, plans to restart its Bitcoin purchases once its preferred shares recover to a par value of $100. CEO Phong Le revealed this strategy during a conversation with Bloomberg TV, where he elaborated on the company's pivot to a more robust financial model amid challenging market conditions.
Since late June, Strategy has halted its Bitcoin acquisitions and instead focused on building a cash reserve, raising $467 million through a common stock sale to amass a total of $3 billion. This reserve is substantial enough to cover two years of dividend payments. Le emphasized the importance of restoring the value of their Stretch (STRC) preferred shares, which have been trading below par since mid-May. As of the recent discussions, they are trading around $89.
“When Stretch gets back to par, we’ll issue more. We’ll buy Bitcoin. We may continue to beef up our U.S. dollar reserve,” Le mentioned, though he expressed uncertainty about the timeline for this recovery. The successful issuance of new preferred shares becomes pivotal when the stock is above that threshold, enabling the company to raise funds more effectively.
Furthermore, Le articulated a strategic evolution from being merely a Bitcoin treasury firm to a comprehensive digital capital platform. He noted, “We’ve learned over the course of the last couple months that having liquid access to U.S. dollar capital is quite important.” This shift aligns with a broader trend where cryptocurrency firms are adapting to maintain liquidity and leverage their resources more efficiently.
However, Le also acknowledged the potential risks involved, particularly concerning Bitcoin’s price. He stated that if Bitcoin were to plummet to the $8,000 to $10,000 range, the company would need to reassess its financial strategy moving forward. Le's cautious approach highlights not only the volatile nature of cryptocurrencies but also the importance of financial stability for firms operating in this space.
Summary based on original reporting by Decrypt Agent at Decrypt, originally published Jul 15, 2026. SolanaWire does not republish source content.
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