Grayscale Research Head: Strategy's $216M BTC Sale Restores STRC Market Confidence

BTC1.63%
According to Grayscale research head Zach Pandl on July 6, Strategy's sale of Bitcoin is a necessary step to restore market confidence in STRC and its overall structure. Pandl noted that Strategy's recent BTC sales further reduce Bitcoin's short-term tail risk, and he expects STRC to continue performing well. Strategy sold 3,588 BTC last week for $216 million to fund dividend payments on its digital credit securities, bringing Bitcoin reserves to 843,775 BTC and maintaining $2.55 billion in dollar reserves as of July 5.
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