Strategy Inc. CEO Phong Le Says Bitcoin Sale Was a Market Inoculation Test

Strategy Inc. sold 32 Bitcoin between May 26‑31 2026 for roughly $2.5 million at an average of $77,135 per coin, representing only 0.004 % of its holdings. CEO Phong Le told CNBC the transaction was a deliberate, limited exercise to test the company’s internal execution processes, demonstrate balance‑sheet flexibility, and capture tax‑loss opportunities, not a response to financial distress. Proceeds were directed to distributions on the firm’s perpetual preferred stock, while the company remained a net buyer, acquiring about 1,500 BTC over the same period.

Le emphasised the sale was intended to “inoculate the market,” and referenced a similar tax‑loss maneuver in December 2022. He noted that institutional shareholders were not unsettled, whereas some retail investors and “crypto anarchists” expressed frustration over the break from the traditional “never sell” stance.

The move coincided with broader market weakness: Bitcoin was trading near $61,600 on June 10 2026, down more than 40 % from its October 2025 peak, and spot Bitcoin ETF outflows of $2.8‑$3.5 billion triggered $1.8 billion in forced liquidations. Strategy’s shares fell about 67 % alongside the crypto sell‑off. Le cited three macro pressures – Fed rate uncertainty, ongoing global conflicts, and unclear U.S. crypto regulation – as contributing to the downturn.