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Strategy Inc. is temporarily prioritizing balance sheet strength over aggressive Bitcoin accumulation, but CEO Phong Le says the company's long-term strategy remains unchanged.
During an interview with Bloomberg Television on July 15, Le said Strategy's decision to hold $3 billion in cash after recent stock sales reflects feedback from preferred shareholders rather than a change in the company's Bitcoin thesis.
Strategy did not buy or sell Bitcoin between July 6 and July 12, marking a pause after weeks of active treasury management.
"We've really evolved from being a Bitcoin treasury company to a full digital capital platform," Le stated.
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The larger cash reserve gives Strategy greater financial flexibility while reassuring preferred shareholders that the company has sufficient liquidity on its balance sheet.
Currently, MSTR is the world's largest identified corporate Bitcoin holder holding more than 804,000 BTC.
The Strategy CEO pointed out that the company intends to continue expanding its capital base through its Stretch preferred shares, but only after they recover to par value.
It further plans to use future capital raises to purchase additional Bitcoin, increase its U.S. dollar reserves and strengthen its balance sheet for future market volatility.
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Le added that building the cash reserve has already helped STRC recover significantly from recent lows.
According to Le, Strategy's capital structure is designed to survive extended bear markets.
The company has enough liquidity to cover its obligations for years and would only begin reassessing debt-related risks if Bitcoin were to fall to roughly $8,000 to $10,000.
"We've been through this in 2022. We're going through it in 2026. And I'm pretty excited about the next bull market of Bitcoin," Le said.
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