Strategy chief executive Phong Le said the company will not panic over its Bitcoin holdings unless the cryptocurrency drops to between $8,000 and $10,000. The comments came in a Tuesday interview with Bloomberg TV.
Le stated that Strategy feels very secure about its balance sheet until Bitcoin reaches that range. He added that such a decline would prompt the firm to consider risks tied to its debt.
Bitcoin traded near $64,500 at the time of the remarks. Strategy holds the largest Bitcoin treasury among public companies.
The company's preferred stock STRC has traded below its $100 par value since April. Le said increasing dollar reserves will help support a recovery toward $90.
