Strategy Inc. CEO Phong Le highlights the importance of maintaining liquid U.S. dollars for balance-sheet strength.
Strategy Inc. CEO Phong Le reported that the company's primary lesson in 2026 was the necessity of holding liquid U.S. dollars to ensure balance-sheet strength and meet dividend obligations. During the second-quarter earnings call, Le explained that while liquid Bitcoin is valuable, investors holding preferred stock prioritize U.S. dollars over the cryptocurrency. To support this, Strategy Inc. maintains $3.75 billion in cash reserves, which is sufficient to cover more than two years of dividend and interest obligations. This shift in strategy reflects a move away from the 'never sell' thesis, as the company has already offloaded 3,620 Bitcoin in 2026. The company reported quarterly revenue of $122.39 million, slightly missing consensus estimates. Despite the move to monetize Bitcoin to bolster cash, Strategy Inc. remains the world's largest institutional holder of the cryptocurrency, with over 843,775 Bitcoin in its reserves.