MSTR Stock: This Analyst Sees 75% Upside As Strategy CEO Defends $80K Bitcoin Buy As ‘Right Trade’

Phong Le said in an interview with Bloomberg that Strategy's balance sheet grew to $72 billion in assets over two months.

• Strategy CEO Phong Le defended buying Bitcoin near $80,000 after selling in the $60,000 range on Tuesday.
• He called it the "right trade" and pointed to cost of capital, not price, as the deciding factor for the purchases.
• Alliance Global initiated coverage of Strategy with a ‘Buy’ rating and raised the stock's price target to $217.

Strategy’s (MSTR) decision to sell Bitcoin (BTC) in the 60,000 range, only to resume buying near $80,000, may look like a costly case of selling low and buying high, but to CEO Phong Le it was the ‘right trade” to make at the time.

When asked about the sell-low, buy-high sequence during an interview with Bloomberg on Tuesday, Le defended the decision, saying Strategy did not make Bitcoin decisions based on price alone. 

He pointed to the company's balance sheet over the past two months, during which Strategy grew its total assets to $72 billion, including $65 billion in Bitcoin holdings and $7 billion in U.S. dollar reserves, marking a 34% increase in that span. 

Lee said that a rapidly strengthened balance sheet, now holding $72 billion in assets, including $65 billion in Bitcoin and $7 billion in dollar reserves, gave the company more flexibility to sell MSTR shares at a premium and put those proceeds back into Bitcoin.