Strategy’s Phong Le Explains Why They Sold Bitcoin at $60K, Bought at $80K

Phong Le said Strategy sold Bitcoin around $60,000 to trim exposure and take profits during a rapid run-up, then repurchased around $80,000 after market signals and renewed conviction justified re-entry. He framed the moves as active risk management and tactical reallocation rather than a reversal of the firm’s longer-term bullish view. The key implication for Bitcoin is that institutional managers will both sell into strength and buy higher prices based on momentum and conviction, a behavior that can amplify price trends and provide continued demand even as it increases short-term volatility.