Summary
- CEO Le said that Strategy securing a 1.4 billion dollars cash reserve was a measure to ease investors' concerns.
- He said that through this raising they secured the funds needed for at least 12 months and up to 24 months of preferred stock dividends and company debt interest payments.
- CEO Le emphasized that Strategy's ability to raise funds is not impaired despite the recent Bitcoin bear market.
Pong Le, Strategy's CEO, described Strategy's recent securing of a 1.4 billion dollars cash reserve as "a measure to calm investors' anxieties."
CEO Le said in a CNBC interview on the 5th (local time), "Recent sharp drops in the price of Bitcoin have increased concerns about the company's financial soundness," adding, "This raising of reserves is to dispel those worries."
Previously, Strategy announced that it had newly raised a dollar reserve of 1.444 billion dollars to cover preferred stock dividends and company debt interest payments. The company explained that the goal is to secure dividend funds for at least 12 months and up to 24 months.
CEO Le said, "Because Strategy is a pillar of the Bitcoin ecosystem, questions about market volatility are always raised," and "by raising capital and incorporating dollars onto the balance sheet, we tried to dispel the various rumors and concerns recently raised."
He also drew a line regarding concerns raised by some about the 'possibility of dividend payments.' CEO Le emphasized, "There is absolutely no problem. There is no need to sell Bitcoin." He added, "We raised 1.444 billion dollars in just 8 days," and "this shows that Strategy is still a company that can raise funds in the market even in a Bitcoin bear market."
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
