‘We’ll Get Through This Bear Market,’ Says CEO of Bitcoin Treasury Company Strategy 

Bitcoin treasury company Strategy’s CEO Phong Le brushed aside concerns investors may have about the Nasdaq-listed company selling its stash. 

Speaking on CNBC Monday, Le said that Strategy would continue doing what it’s always done, and outperform Bitcoin during the next bull run. 

Strategy (MSTR) on Monday revealed that it had sold 1,638 Bitcoins for roughly $104.7 million, and bought back 912,143 shares of its preferred stock, STRC, for $81.2 million.

The firm’s stock is down nearly 40% year-to-date. It has shed nearly 80% of its value since it closed a record of nearly $474 in November 2024. 

“I think Bitcoin is going through a bear cycle right now, and some of that is external macroeconomic,” Le said. 

“We, as a company, went through this in 2022. We actively manage our capital structure, we rotate into Bitcoin, we sell Bitcoin when we need to, and we’ll continue to do so — and we’ll get through this bear market,” he added. 

Strategy started buying Bitcoin in August 2020 as a way to generate better returns for its shareholders during the COVID-19 pandemic and hedge against inflation. It now has 842,138 coins worth $53.8 billion, making it the biggest corporate holder of the asset. 

The idea is that investors can buy its shares to gain heightened exposure to the leading cryptocurrency without having to buy and hold digital coins themselves.

Strategy was aggressively buying Bitcoin week after week but hasn’t bought any in six weeks. In the company’s quarterly earnings last week, it posted a $8.22 billion loss for the second quarter of 2026. 

Still, Le said the company’s current paper loss wasn’t important for the time being, and that next year, the company’s stock would soar again. 

“We’re the J.P. Morgan of the crypto economy, so whether we sell 1,000 Bitcoin out of 840,000 to me is irrelevant to the conversation,” Le said. 

“The conversation is what is our role in Bitcoin, and are we adding Bitcoin per share overall to our shareholders, and are we creating value? I think that’s an unequivocal yes.”