Strategy CEO Reveals Why the Company Sold 32 Bitcoins

Strategy CEO Phong Le told CNBC that the company’s sale of 32 Bitcoin was primarily conducted to test its internal selling procedures and to help “inoculate” the market against any potential impact.

He added that the transaction also produced tax losses that could be applied to offset related tax liabilities, offering an additional financial benefit alongside the operational exercise.

Le further clarified that the sale was not intended to finance dividends, noting that Strategy has alternative funding options available for that purpose. He also said the company could consider future Bitcoin sales if they are determined to be in the best interest of common shareholders.

Source: CNBC