Grayscale Defends Strategy’s Bitcoin Sales
Grayscale Research believes Strategy’s recent Bitcoin sales may be positive for the broader BTC market, despite criticism from some investors.
Michael Saylor and Strategy faced backlash after announcing fresh BTC sales while the Bitcoin price briefly dropped toward the $61,000 level. However, Grayscale argues that the move should not be viewed as bearish.
Instead, the firm says the sale could strengthen market confidence, reduce financing concerns, and help Bitcoin form a more stable price bottom.
Why Grayscale Sees the BTC Sale as Positive
According to Grayscale Research, Strategy’s $216 million Bitcoin sale may help reduce financing risk.
Strategy remains one of the largest Bitcoin treasury companies, holding 843,775 BTC worth nearly $53 billion. The company also has close to $7 billion in debt.
Grayscale noted that Strategy still appears to have enough resources to manage its financial obligations. Its annual dividend payments on preferred equity are reportedly below $2 billion.
Zach Pandl, Head of Research at Grayscale, said Strategy has enough financial strength to handle both debt and dividend obligations.
Bitcoin Sales May Help BTC Find a Stronger Bottom
Grayscale also suggested that Strategy’s BTC sales could support Bitcoin price stability.
The research firm believes the move may help reduce market uncertainty around Strategy’s balance sheet and financing structure.
In Grayscale’s view, this could make the market more confident that Bitcoin is forming a more durable bottom after its recent decline.
Strategy Builds Stronger US Dollar Reserves
The recent Bitcoin sale increased Strategy’s US dollar reserves.
According to Grayscale, the company now holds around $2.55 billion in cash reserves, enough to cover nearly 17 months of dividend payments.
Strategy also introduced a framework showing that it may issue shares or sell Bitcoin when needed to maintain enough dollar reserves for its obligations.
This strategy is designed to reassure investors that the company can continue meeting its financial commitments without putting too much pressure on its balance sheet.
STRC Stock Rises After Reserve Update
Despite the Bitcoin sale, STRC stock closed 0.81% higher at $88.58 on Monday. It also moved slightly higher in premarket trading on Tuesday, reaching around $89.
This suggests that some investors responded positively to Strategy’s decision to strengthen its dollar reserves.
Binance also launched STRC stock trading, giving traders another way to gain exposure without using traditional brokerage accounts.
MSTR Stock Remains Under Pressure
Meanwhile, MSTR stock traded slightly lower in premarket action, falling around 0.80% to $99.97.
Even so, the stock remains up almost 18% over the past week. Some analysts continue to stay bullish on MSTR, with Cantor Fitzgerald maintaining a buy rating and a 12-month price target of $212.
Bitcoin Price Holds Above $63K
The Bitcoin price was trading above $63,000 after bouncing from a 24-hour low of $61,275. During the same period, BTC reached a high of $64,597.
Market sentiment also improved as BlackRock’s Bitcoin ETF recorded fresh inflows after a weaker period. At the same time, Bitcoin trading volume rose by 77% over the last 24 hours.
Overall, Grayscale believes Strategy’s BTC sale may help calm market concerns instead of creating deeper fear. If investors see the move as a sign of stronger financial discipline, it could support both Strategy’s outlook and Bitcoin’s price stability.
