WuBlockchain Weekly: Strategy Resumes Bitcoin Buys, SEC Chair Backs Clarity Act and Russia Crypto Law Takes Effect, etc

1. Strategy CEO: Selling BTC at $60K and Repurchasing at $80K Not Contradictory, Trades Driven by Cost of Capital link

Strategy CEO Phong Le said in a Bloomberg TV interview regarding the firm’s prior Bitcoin sales around $60,000‑$65,000 and recent purchases near $80,000 that Strategy’s BTC trading decisions hinge not on Bitcoin’s absolute price but primarily on cost of capital. He noted the earlier sale of roughly 7,000 BTC to cover portions of preferred‑stock dividends was the right trade at that time. Over the past two months, the company brought net debt down from around $7 billion to zero and built about $7 billion in dollar reserves. Financing BTC acquisitions via premium MSTR share issuances is also the correct current transaction, according to Le.

Le stated Strategy pursues a “two‑way strategy” and may still sell BTC under appropriate conditions while remaining a net buyer overall. The firm could keep buying even if Bitcoin climbs to $90,000, $100,000 or $130,000, provided cost‑of‑capital and expected‑return metrics remain favorable.

In its public response to MSCI, Strategy pushed back against MSCI’s proposed new index‑eligibility test that would bar “non‑operating companies” including Strategy from the Global Investable Market Index (GIMI), demanding MSCI withdraw the proposal. Strategy pointed out funds tracking MSCI GIMI hold only approximately 3.1 % of its basic free‑float shares, so direct impacts from a potential removal would be limited. It argued the proposal revives MSCI’s 2025‑later‑withdrawn rule barring firms with over 50 % digital‑asset exposure from index inclusion, and that the distinction between “operating” and “non‑operating” companies lacks clear definition under US GAAP, IFRS or other established legal frameworks. Strategy further stated it reports its Bitcoin business as an operating segment under US GAAP, consistent with communications with SEC staff. MSCI’s consultation closes September 30, with results expected October 16. Should the proposal pass, potential constituent changes would be announced November 11 and take effect December 1.