Strategy CEO Phong Le says buying Bitcoin is easier than selling
The company holding 843,000 BTC just sold 32 of them, and Le wants you to know that doesn't change anything.
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Add us on Google by Editorial Team Jun. 7, 2026Phong Le, CEO of Strategy, distilled his company’s entire operating philosophy into seven words on June 5: “Buying Bitcoin is easier than selling.”
Strategy, the firm formerly known as MicroStrategy, has turned itself into the largest corporate Bitcoin treasury on the planet, sitting on roughly 843,000 BTC.
The 32 BTC that launched a thousand questions
In early June 2026, the company offloaded 32 BTC for approximately $2.5 million. That marked the first time Strategy had sold any of its Bitcoin holdings since 2022.
AdvertisementThe sale was made to service preferred dividends, specifically tied to the company’s STRC perpetual preferred stock. That instrument, formally known as the Series A Perpetual Stretch Preferred Stock, offers an annualized yield of approximately 11.5%, and its economics are directly linked to BTC acquisition.
Le has been clear that any sales will only occur under conditions that enhance Bitcoin per share and benefit common shareholders.
The road to one million BTC
The company raised $25.3 billion in 2025 to fund its accumulation strategy. Capital raises in 2026 are expected to exceed $80 billion, with the explicit goal of pushing total holdings toward 1 million BTC.
One million Bitcoin would represent roughly 4.8% of all Bitcoin that will ever exist.
The company rebranded from MicroStrategy to Strategy Inc. in August 2025, an acknowledgment that Bitcoin treasury operations are the business now.
What Le’s framing actually tells us
Le has emphasized that the company’s approach is mathematical, not ideological. It means sales aren’t off the table forever. They’re subject to a very specific set of conditions: does selling this Bitcoin increase the amount of Bitcoin attributable to each common share? If yes, sell. If no, hold.
The risk is concentration. A company holding 843,000 BTC has existential exposure to Bitcoin’s price. If Bitcoin enters a prolonged downturn, the preferred dividends still need to be serviced, and the 32 BTC sale in June shows what that looks like in miniature.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
