Morning Minute: Strategy CEO Says Selling The Bottom Was Correct Move

Strategy (formerly MicroStrategy) sold Bitcoin over the summer at lower prices, then repurchased it at higher prices weeks later, a sequence CEO Phong Le said reflected balance sheet management rather than a bet on Bitcoin's price. The company said the moves were driven by the cost of issuing shares versus selling Bitcoin to meet obligations, and it now describes itself as a two way capital management company while remaining a net Bitcoin buyer.