Strategy Sells 32 Bitcoin at $77,000 Each; CEO Phong Le Defends Controversial Move

Strategy Inc. sold 32 Bitcoin between May 26 and May 31. The average price: $77,135 per unit, totaling around $2.5 million. A small amount, but a big reaction.

CEO Phong Le was straightforward about the reasons. According to him, there were three objectives: to show that Strategy can sell when needed, to test the company’s internal systems for Bitcoin sales, and to capture tax losses on earlier purchases made at lower prices. He insists there’s no financial distress behind this. The proceeds from the sale were redirected to distributions on the company’s perpetual preferred shares — an accounting mechanism, not a panic signal.

0.004% of total holdings. That’s what this sale represents.

Phong Le Faces Criticism from Hodlers

That didn’t stop the market from reacting negatively. Bitcoin was hovering around $61,600 on June 10, 2026, down more than 40% from the all-time high of October 2025. Strategy’s shares suffered in parallel — trading between $117 and $127 this week, down 67% from the 52-week high. Tough.

The harshest critics? They come from retail investors and “crypto-anarchists,” according to Phong Le himself. Those ideologically committed to never touching their Bitcoin. He acknowledges their frustration but says the decision was made in the interest of common shareholders, preferred shareholders, and debt holders. Institutional investors, with whom Strategy maintains direct relationships, don’t seem disturbed. That’s according to him.

And that’s where the divide gets interesting. On one side, institutional shareholders who see it as a normal operational maneuver. On the other, individual investors who believe Strategy had promised never to liquidate its reserves. Phong Le doesn’t deny the tension. He just clearly chooses his side.

This isn’t the first time. In December 2022, Strategy sold 704 BTC at $16,776 each, then bought back 810 two days later. The goal at the time: to exploit the absence of a wash-sale rule in the cryptocurrency world — a rule that exists in traditional stock markets but not yet for digital assets. Result: tax losses harvested, holdings increased. Same logic in May 2026, same playbook.

1,550 Bitcoin Bought Back Shortly After

Strategy remains a net buyer. During the same period as the sale of the 32 BTC, the company acquired about 1,500 Bitcoin. And between June 1 and June 7, it bought back an additional 1,550 Bitcoin at an average price of $65,332. Probably a way to calm things down after the media noise.

See also: Bitcoin maintains $60K but a drop to $50,000 remains possible

At the end of May, Strategy held a total of 845,256 Bitcoin. Not exactly the profile of a company doubting its strategy.

More context: Bitcoin Could Drop Another 20% Before Bear Market Ends, Analysts Warn

Phong Le still acknowledges external pressures. He cites uncertainty around Federal Reserve interest rates, ongoing global conflicts, and the lack of regulatory clarity from the U.S. Congress. Three factors weighing on Bitcoin and markets in general. But for him, Bitcoin remains a hedge against inflation and what he calls “big government” — excessive government control.

He makes a comparison. Current conditions, according to him, resemble those of May 2022 — a cyclical downturn, not a structural break. A potential opportunity for long-term investors. It’s unclear if the market shares this view for now.

The global context is heavy. Spot Bitcoin ETF outflows are estimated between $2.8 and $3.5 billion — a figure reflecting a loss of investor confidence, even though the source does not specify the exact period of these outflows. It’s a signal the market is watching.

So, Strategy sold 32 BTC, bought back 1,550 BTC, and its CEO defends the operation as a test of flexibility. The company’s shares remain under pressure at $117-$127, far from the annual peak. And Bitcoin at $61,600 on June 10, still in deep correction territory compared to October 2025.

See also: Bitcoin Holds $60K but a Drop to $50,000 Isnt Off the Table

On the same topic: Bitcoin slides to $62,000 as bearish market patterns repeat