Strategy President and CEO Phong Le stated that the decision to buy Bitcoin comes down to cost of capital rather than market timing or Bitcoin's specific price. ^[1] Strategy resumed its Bitcoin purchases following a 10-week pause spent shoring up its balance sheet. ^[2] Phong Le, CEO of Strategy, said in a Bloomberg Crypto interview that selling Bitcoin near $60,000 and buying it back at $80,318 was 'the right trade' each time, driven by balance sheet and financing costs rather than a bet on Bitcoin's price. ^[3] CEO Phong Le stated the trade only works when selling shares or debt costs less than Bitcoin's expected return. ^[4] Phong Le compared the calculation behind Bitcoin purchases to financing a data center buildout, noting that land and energy costs have climbed while the cost of raising capital stayed low. ^[5] According to an Aug. 31, 2025 regulatory filing, Strategy bought 4,603 BTC for $369.7 million in the week ending Aug. 30, 2025, paying an average of $80,318 per coin, and financed the purchase by selling shares of its MSTR common stock. ^[6] According to Strategy's Bitcoin ledger, the company sold 6,916 BTC in four tranches from late June 2025 through mid-August 2025 at a weighted-average price of about $62,200. ^[7] In May 2025, Strategy abandoned its 'never sell' position and pledged to remain a net Bitcoin buyer, a shift that came after its STRC variable-rate perpetual preferred stock fell below its $100 stated value in June 2025, reducing a source of funding for Bitcoin purchases. ^[8]