Strategy, Michael Saylor’s company, sold approximately 7,000 bitcoins between $60,000 and $65,000 before resuming purchases around $80,000. CEO Phong Le justifies this strategy based on cost of capital logic rather than market timing. The company reduced its net debt from $7 billion to zero while building $7 billion in cash reserves. It then repurchased 4,603 BTC for approximately $369.7 million at an average price of $80,318, bringing total reserves to 845,050 BTC, worth approximately $65 billion. Bernstein analysts maintain their « Outperform » rating with a $350 price target and forecast Bitcoin at $150,000 by mid-2027.
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