Le emphasized the significance of boosting the U.S.-dollar reserve as a crucial factor in the preferred stock STRC’s rebound to approximately $90 after dipping below $75 last month.
By Jamie Crawley|Edited by Oliver Knight Jul 15, 2026, 12:00 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on New MicroStrategy CEO Phong Le (MicroStrategy)SummaryShow- The CEO stated that the company will not panic unless Bitcoin drops to the $8,000-$10,000 range.
- “Until that point in time, we feel very secure about the balance sheet,” Le mentioned during an interview with Bloomberg TV.
- He pointed out that enhancing the U.S.-dollar reserve is vital for STRC’s return to around $90. STRC aims to maintain a $100 par value.
MicroStrategy (MSTR), the largest publicly traded holder of bitcoin BTC$65,144.09, will not react dramatically until Bitcoin falls into the $8,000-$10,000 range, according to its CEO.
Phong Le specified that this threshold would necessitate the company to evaluate the risks linked to its debt, as he stated in an interview with Bloomberg TV on Tuesday.
A dip to that level would signify an approximate 85% decline based on Bitcoin's current valuation of roughly $64,500 at the time of this writing.
“Until that point in time, we feel very secure about the balance sheet,” Le reiterated. “We need to establish a capital structure capable of enduring bear markets while also capitalizing on bull cycles.”
MicroStrategy’s preferred stock STRC, which is structured to provide the cash flow necessary for Bitcoin purchases in exchange for a regular dividend — currently yielding 13% annually, has faced pressure in recent months. The stock is intended to maintain a par value of $100, which it dropped below in April, subsequently falling under $75 in late June.
If STRC trades below $100, it limits MicroStrategy’s capacity to issue new shares and utilize the proceeds to acquire Bitcoin.
Le emphasized the need to enhance the U.S.-dollar reserve as a crucial factor for STRC’s recovery back to approximately $90.
“We have learned in recent months that maintaining liquid access to U.S.-dollar capital is essential,” he stated. “Therefore, we will continue to build that reserve.”
MSTR shares closed nearly 6% higher at $97.58 on Tuesday, yet remain 36% lower year-to-date and 78% down from a year ago.
For many analysts, a key indicator is MSTR’s multiple to net asset value (mNAV), which assesses the market capitalization of shares against the value of its Bitcoin holdings. This metric fell below 1 at the end of June and now stands at 1.02, indicating that shares are trading at only a slight premium to its Bitcoin assets.
“As long as MSTR is valued above the net asset value of our Bitcoin, it signifies that our shareholders are acknowledging our performance beyond Bitcoin,” Le concluded.
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Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
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CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
By CoinDesk ResearchJul 13, 2026CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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