<div id="readability-page-1">Strategy CEO Phong Le has dismissed market fears about the firm’s stock, MSTR, and the recent Bitcoin price crash.Le also emphasized that they were not worried about the $17.4 billion Q4 2025 loss, unless BTC slips to $8K. In a recent interview with CNBC, he said,<blockquote>“($17.4B) GAAP loss is not really a true cash loss to the company. If Bitcoin goes down to $8K for five years, maybe that’s when we’ll start having issues, and whether we need to sell BTC. But the GAAP loss isn’t something we’re concerned about.”</blockquote>Under U.S. GAAP (Generally Accepted Accounting Principles), crypto firms must recognize impairment losses or gains on their underlying holdings for the specified period covered by their reports.The extended BTC price decline from $126K in October to $87K by the end of December led Strategy to shed over $17 billion from the value of its BTC holdings. But Le said it was ‘extremely unlikely’ for BTC to fall to $10K.<h2>Strategy clarifies leverage and ‘fraud’ claims</h2>Le further reinstated that they are not worried about leverage and the impact of dividend payments as BTC crashes, adding that,<blockquote>“We have $2.52B cash reserve as a digital fortress to back up dividend payments. We’re not worried about the leverage, dividend payments, and are not concerned about BTC price right now.”</blockquote>In response to ‘fraud’ claims made by Peter Schiff, a long-time Bitcoin critic, Michael Saylor, founder of Strategy, retorted that their products outperform all perceived alternatives.<div id="attachment_568468"><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Screenshot-2026-02-07-095938.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="828" height="354" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Screenshot-2026-02-07-095938.png"/>Source: X/Michael Saylor</div>Stretch (STRC) is one of the preferred stocks Strategy issues to raise capital for BTC buys.In return, STRC offers an 11% yield to investors. However, Schiff wondered where the yield was being generated, slamming the overall capital-raising model as ‘fraud’ and a ‘ponzi’ scheme.<h2>Treasury firms hold steady</h2>Meanwhile, most Bitcoin treasury firms didn’t aggressively jump into dip-buying as BTC dumped to $60K. Even so, none panicked and sold their holdings.According to Blockworks data, the treasury firms held a collective 813K BTC before and after the drawdown.<div id="attachment_568471"><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Bitcoin-Crypto-Treasury-Companies_-BTC-Holdings.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1350" height="750" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/02/Bitcoin-Crypto-Treasury-Companies_-BTC-Holdings.png"/>Source: Blockworks</div>Strategy accounted for 713.5K BTC of the total holdings of Bitcoin treasury firms.That said, the 12% relief bounce in BTC on Friday, from $60K to $71K, lifted MSTR stock by 26% to $134.9, reversing the 17% loss posted on Thursday. That’s a 2x outperformance against BTC.This validated Saylor’s statement that MSTR is an ‘amplified wrapped BTC.’ However, it also dumps harder when BTC slips.<hr/><h2>Final Thoughts</h2><ul><li>Strategy’s CEO Phong Le downplayed the impact of the recent BTC crash on the firm’s overall health and plans</li><li>Treasury firms held a collective of 813K BTC and didn’t reduce holdings during the sharp BTC price drop to $60K</li></ul></div>

Strategy CEO Phong Le has dismissed concerns over the firm's $17.4 billion Q4 loss, stating that a Bitcoin price drop to $8K would be a cause for concern. He emphasized that the GAAP loss does not reflect true cash loss and reassured that the company has a $2.52 billion cash reserve to support dividend payments. Despite criticism from Bitcoin skeptics, Strategy remains confident in its capital-raising model. The recent Bitcoin price bounce lifted MSTR stock by 26%, showcasing its amplified performance relative to Bitcoin.

- CEO Phong Le reassured investors that the firm's stock MSTR is not adversely affected by recent Bitcoin price declines, claiming the $17.4 billion Q4 loss isn't a real cash loss unless Bitcoin drops to $8K.  
- Strategy maintains a strong cash reserve of $2.52 billion, which supports dividend payments, and downplayed worries about leverage and fraud allegations.  
- The firm holds 713.5K BTC within collective treasury firms that are not aggressively selling, and following a recent BTC bounce, MSTR stock surged by 26%.

Amb Crypto

Strategy

Coinbase

Riot Platforms

Mara

Daily Target 2X Long MSTR ETF

Fidelity Wise Origin Bitcoin Fund - ETF

Defiance Leveraged Long + Inc MSTR ETF

Bitwise Bitcoin ETF

iShares Bitcoin Trust ETF

VanEck Bitcoin ETF

Grayscale Bitcoin Adopters ETF

CoinShares Bitcoin ETF

YieldMax MSTR Short Opt Inc Stgy ETF

ARK 21Shares Bitcoin ETF

Invesco Galaxy Bitcoin ETF

WisdomTree Bitcoin Fund

Franklin Bitcoin ETF

Leverage Shares 2x Cpd Acclrtd MSTRMnETF

Defiance Daily Target 2X Short MSTR ETF

T-REX 2X Inverse MSTR Daily Target ETF

XL2CSOPMSTR

XI2CSOPMSTR

Strategy shrugs off Q4 loss: ‘Bitcoin must hit $8K to force a sale’