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Strategy CEO says debt risk starts near $8,000-$10,000 Bitcoin, eyes STRC at par

Strategy CEO says debt risk starts near $8,000-$10,000 Bitcoin, eyes STRC at par

Phong Le said Strategy built a roughly $3 billion cash reserve, sold more than $215 million of Bitcoin to support preferred-share liquidity, and plans further BTC purchases when STRC returns to its $100 par value.

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Fact Check
Multiple independent sources reporting the same July 15, 2026 Bloomberg TV interview confirm every element of the claim. Coin Bureau provides a direct quote ('very secure about the balance sheet' until the $8,000-$10,000 range) with video. Yahoo Finance/Decrypt and CoinPost both confirm the $8,000-$10,000 debt-risk threshold and that the ~$3B reserve was built to support STRC preferred-share liquidity. The claim's two core assertions—the $3B reserve purpose and the $8,000-$10,000 threshold—are consistently corroborated.
Summary

Strategy President and CEO Phong Le said the company does not see a meaningful threat to its debt position unless Bitcoin falls to about $8,000 to $10,000, while reaffirming that it plans to keep buying Bitcoin and may fund the next purchases by issuing more STRC preferred stock once it returns to its $100 par value. Le said Strategy raised cash to about $3 billion through common-stock sales and sold Bitcoin in two recent periods to address preferred shareholders’ short-term liquidity concerns, with reported BTC sales totaling more than $215 million. He said the cash reserve can cover preferred-stock dividends for about two years and improve financial flexibility. Strategy’s holdings stood at 843,775 BTC after the sales, still above BlackRock’s IBIT holdings cited in the report. STRC, known as Stretch, was recently trading around $87-$88 after falling below $75 in late June, and Le said restoring confidence in the preferred stock has become important to the company’s capital plan.

Terms & Concepts
  • STRC: Strategy’s perpetual preferred stock, known as Stretch, which the company uses as a funding vehicle for Bitcoin purchases.
  • par value: The face value of a security; Strategy has said it would resume issuing STRC when it returns to its $100 par value.
  • mNAV: A ratio comparing a company’s market capitalization with the value of its underlying assets, used by investors to assess Strategy relative to its Bitcoin holdings.