Grayscale Research says Strategy’s $216 million bitcoin sale may reduce financing risk and support price stability, pointing to the rebound in STRC as a sign investors are responding positively.
Key Takeaways
Grayscale said Strategy’s $216M bitcoin sale lifted dollar reserves to cover about 17 months of dividends.Strategy sold 3,588 BTC between June 29 and July 5, leaving 843,775 BTC and $2.55 billion in cash on hand.Grayscale’s Zach Pandl said the shift cuts tail risk and could help bitcoin find a more durable bottom.STRC, the company’s variable-rate preferred stock that pays a dividend near 12%, had recently traded well below its $100 par value as doubts about the dividend’s sustainability grew. Its rebound following the sale is the signal Grayscale highlighted as evidence the approach is working.
