Strategy CEO Says Company Plans to Buy More Bitcoin Later This Year

Strategy intends to add to its Bitcoin holdings again before year-end, CEO Phong Le said, according to FOX Business.

Le said Strategy has bought about 175,000 BTC so far this year, compared with approximately 7,000 BTC sold. Purchases therefore amounted to roughly 25 times its sales volume.

Funds generated by the Bitcoin sales went toward share repurchases, preferred stock dividends, and U.S. dollar reserves, according to Le. 

The company expects to make additional Bitcoin purchases during the rest of the year, he said.

Source: FOX Business