Strategy CEO Phong Le says company will sell BTC only in specific cases
Strategy’s Bitcoin sales will not move the markets, despite it owning more than 4% of the digital currency’s maximum supply, Le said.
Phong Le, the CEO of Bitcoin treasury company Strategy, outlined conditions during an interview on Friday, under which the company would sell some of its Bitcoin holdings.
The company will sell Bitcoin to pay the dividend on its Series A Perpetual Stretch Preferred Stock (STRC), a corporate credit instrument that pays an 11.5% dividend to holders, and to defer or offset taxes, Le told CNBC. He added:
Le added that the company would only sell BTC to pay for the yield owed to holders of its credit instruments if the sales are “accretive” to Strategy’s shareholders, meaning the company increases the BTC per share metric.
