Strategy CEO Outlines Criteria for Bitcoin Sales
The post Strategy CEO Outlines Criteria for Bitcoin Sales appeared on BitcoinEthereumNews.com. Phong Le, the CEO of Bitcoin treasury company Strategy, outlined conditions in a Friday interview under which the company would sell some of its Bitcoin holdings. The company will sell Bitcoin to pay the dividend on its Series A Perpetual Stretch Preferred Stock (STRC), a corporate credit instrument that pays an 11.5% dividend to holders, and to defer or offset taxes, Le told CNBC. He added: “I believe in math over ideology, and at the point where selling Bitcoin versus selling equity to pay a dividend is better for our Bitcoin per share, and for our common shareholders, we will do it.” Le added that the company would only sell BTC to pay for the yield owed to holders of its credit instruments if the sales are “accretive” to Strategy’s shareholders, meaning the company increases the BTC per share metric. Source: Phong Le The comments came after Strategy co-founder Michael Saylor said that th