Key Takeaways
- Strategy CEO Phong Le said the firm could continue buying Bitcoin at $130,000 and suggested those purchases would look attractive if BTC later reached $260,000.
- Le defended Strategy’s sale of roughly 7,000 BTC, arguing it represented less than 1% of its holdings and helped strengthen the company’s balance sheet.
- Trader Ted Pillows believes Bitcoin could reach $100,000 in 2026, but said it must first record a strong weekly close above $83,000.
Strategy CEO Phong Le has backed Bitcoin to eventually reach $260,000 and said the company could continue buying even after BTC enters record-price territory.
Speaking to Bloomberg, Le defended the company’s decision to sell roughly 7,000 BTC, claiming it was managing its capital.
His bullish projection comes after the company ended a 10-week buying pause with a $369.7 million acquisition, while traders continue to identify $83,000 as Bitcoin’s most important immediate resistance level.
Phong Le Defends Sale and Backs Bitcoin to Reach $260,000
Le rejected the suggestion that Strategy had simply sold low and bought high.
He said the company used its pause in Bitcoin purchases to reinforce its finances, taking total assets to approximately $72 billion.
According to Le, Strategy increased its assets by 34% over two months while reducing net debt from approximately $7 billion to zero.
Strengthening the balance sheet also improved the economics of issuing MSTR shares to finance further Bitcoin purchases, he argued.
However, Le acknowledged that Strategy’s accumulation policy is now a two-way approach and that the company may sell BTC when its capital-management calculations justify doing so.
He described the roughly 7,000 BTC disposal as a small move when measured against the firm’s wider portfolio.
Based on Strategy’s latest holdings, the sale represented just 0.83% of its current Bitcoin position.
Le contrasted that reduction with a 30% increase in Strategy’s BTC holdings during 2026.
The CEO added that he does not currently expect further sales as Bitcoin enters what he called a “pretty heavy bull market.”
Instead, Strategy could continue to accumulate at levels that exceed Bitcoin’s existing record high.
“When it’s at $260,000, people will say the $130,000 Bitcoin was a good purchase,” Le said.
Strategy Resumes Bitcoin Buying After 10-Week Pause
The comments arrived days after Strategy returned to the market following 10 consecutive reporting weeks without a Bitcoin purchase.
In an Aug. 31 filing with the US Securities and Exchange Commission, the company disclosed that it acquired 4,603 BTC for $369.7 million between Aug. 24 and Aug. 30.
The company has now spent an aggregate $63.73 billion on its Bitcoin position at an average price of $75,412.
The purchase was financed through the sale of approximately 4.53 million MSTR shares, which raised $602.8 million in net proceeds.
The purchase followed Michael Saylor’s two-word “We’re back” post, which fueled speculation over whether the company was resuming its aggressive buying campaign.
Ted Pillows Says Run to $100,000 Possible
Le is not the only market watcher expecting Bitcoin to move higher.
Trader Ted Pillows wrote on X that BTC could reach $100,000 before the end of 2026, provided it first produces a convincing weekly close above $83,000.
“$100,000 BTC could happen this year. But for that, BTC needs a strong weekly close above $83,000,” he wrote.
Pillows argued that clearing the threshold would break Bitcoin’s wider downtrend and return control to buyers.
From approximately $76,500, BTC would need to gain about 8.5% to reach $83,000.
It would then require another 20.5% increase to hit $100,000, equivalent to a total rise of almost 31% from its current price.
CryptoQuant has also identified a decisive move above $83,000 as the confirmation required before the current recovery can be classified as a new bull market.
Prediction-market traders remain less convinced.
At the time of Pillows’ post, Kalshi priced just a 25% chance of Bitcoin touching $100,000 before January 2027 and only a 5% chance of it doing so before October 2026.
What Would Bitcoin Need to Reach $260,000?
Bitcoin faces a far larger climb before Le’s $260,000 scenario comes into view.
From approximately $76,500, Bitcoin would have to rise by about 240%, making it approximately 3.4 times its current value.
Bitcoin would first need to clear $83,000, reclaim $100,000 and break its October 2025 all-time high of approximately $126,273.
Reaching $130,000 would place BTC marginally above that record. The price would then have to double again to reach $260,000.
At the current circulating supply, a $260,000 Bitcoin price would imply a market capitalization of roughly $5.2 trillion, compared with approximately $1.55 trillion today.
At $260,000 per coin, Strategy’s existing 845,050 BTC would be worth approximately $219.7 billion.
That would place the position almost $156 billion above its reported purchase cost.
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
