Phong Le highlights the importance of liquid U.S. dollar reserves for Strategy Inc. balance sheet strength
Strategy Inc. CEO Phong Le reported that the company's biggest lesson in 2026 was the necessity of maintaining liquid U.S. dollars to fund dividend obligations. While the firm is the world's largest institutional holder of bitcoin, Le noted that investors holding preferred stock often prioritize dollar liquidity over bitcoin itself. To ensure financial stability, the company maintains a USD reserve of $3.75 billion, which is sufficient to cover interest and dividend obligations for more than two years. This strategy marks a shift from a strict "never sell" bitcoin thesis, as the company has already offloaded 3,620 bitcoin this year to bolster cash reserves and fund share repurchases. Despite a slight miss on quarterly revenue estimates, Strategy Inc. remains a dominant force in the digital asset space. The company currently holds over 843,775 bitcoin, valued at approximately $58 billion. Le indicated that the firm will continue to sell bitcoin when it is advantageous for the company's long-term capital management.