1 month ago
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Key Takeaways
- Grayscale says the sale reduces Bitcoin tail risks.
- Bitcoin ETFs drew $265.69M in inflows July 6.
- Bernstein keeps its $150,000 year-end target.
- JPMorgan remains the skeptical counter-voice.
Strategy confirmed on Monday, July 6, that it sold 3,588 BTC for roughly $216 million the previous week, the first sale in the company’s five-year accumulation history. The transaction was executed under the bitcoin monetization program its board introduced in late June, which permits sales to fund preferred-stock dividends and strengthen cash reserves. Following the sale, Strategy holds 843,775 BTC and $2.55 billion in cash reserves, enough to cover roughly 17 months of dividend obligations.
Grayscale Reframes the Sale as a Positive
The most detailed institutional reaction came from Grayscale. In a Monday note, Head of Research Zach Pandl argued that the sale could Read Entire Article
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