Vaneck Head of Digital Assets Research Matthew Sigel says the roughly $135 million in bitcoin Strategy sold last week did not draw down the company’s $1.25 billion BTC Monetization Program, leaving that capacity fully intact.
Key Takeaways
Vaneck’s Matthew Sigel says Strategy’s $135M July bitcoin sale left its $1.25B monetization program untouched.Strategy sold 3,588 BTC for about $216M between June 29 and July 5 to fund preferred stock dividends.Sigel called Strategy ‘a hedge fund’ trading its own capital stack and bitcoin, saying he pays a low P/E for it.Sigel has been blunt about what the shift means for how investors should value the company. Speaking on Scott Melker’s podcast on Sunday, the Vaneck executive said:
Two Buckets of Selling Power
