Strategy CEO Phong Le hints at raising $80B to buy Bitcoin

Phong Le, CEO of Strategy Inc, has floated the idea of raising more than $80 billion this year to purchase additional Bitcoin. Strategy, which rebranded from MicroStrategy in February 2025, currently holds over 818,334 $BTC acquired at an average cost of roughly $75,500 per coin, making it far and away the largest corporate holder of Bitcoin on the planet.

The capital machine behind the buying spree

Strategy’s Bitcoin purchases are not funded by software revenue. The company has built a capital-raising apparatus using equity issuances, convertible debt, and preferred instruments to finance its purchases. The firm already has a multi-year capital plan targeting approximately $42 billion in combined equity and debt raises spanning 2025 through 2027. An $80 billion single-year raise would nearly double that entire three-year target in twelve months.

No definitive plan for an $80 billion raise has been confirmed in Strategy’s most recent public disclosures. Le’s comments appear to reflect ambition and optionality rather than a binding commitment.

A subtle but important policy shift

Le indicated in May 2026 that Strategy would consider selling Bitcoin “when it’s advantageous,” a meaningful departure from the company’s long-standing “never sell” posture. Michael Saylor, who served as CEO before Le took over in August 2022 and now holds the title of Executive Chairman, built his personal brand around indefinite accumulation. Le’s stated goal is maximizing Bitcoin per share, meaning the company is optimizing for shareholder value rather than raw $BTC accumulation. If selling some Bitcoin at a high price lets them buy back more later or reduce dilution, that’s now on the table.

What this means for investors

There’s also the dilution question. Raising $80 billion through equity issuance would be enormously dilutive to existing MSTR shareholders unless Bitcoin’s price appreciates fast enough to offset the new share creation. Convertible debt offers a partial solution, but it comes with its own risks, particularly if Bitcoin enters a prolonged downturn and conversion prices land out of the money.

For traders watching this space, the key metric to track is Bitcoin per share. That’s the number Le has identified as the company’s north star, and it’s the clearest signal of whether Strategy’s capital raises are creating or destroying value for shareholders.