Strategy plans to resume Bitcoin accumulation this year, already the world's largest institutional holder

Odaily Planet Daily News Bitcoin holding company Strategy CEO Phong Le stated that the company plans to resume accumulating Bitcoin later this year. The company has purchased approximately 175,000 Bitcoins this year and sold about 7,000, with purchases roughly 25 times the amount sold.

Phong Le stated that Strategy has risen from the world's second-largest institutional Bitcoin holder to the largest. The company currently holds over 840,000 Bitcoins in total and has sold Bitcoin four times since May this year, with the most recent sale being 1,690 coins.

The funds from Strategy's recent Bitcoin sales have been used to pay preferred stock dividends, repurchase shares, and supplement dollar reserves. The company previously adhered to a long-term strategy of not selling Bitcoin, and this recent change has drawn market scrutiny. (Cointelegraph)