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Grayscale has made the case that a Bitcoin sale by Strategy could provide cryptocurrency markets with a durable price floor, citing what the asset manager describes as growing investor confidence in Strategy's equity instrument.
Grayscale's Zach Pandl pointed to STRC — Strategy's publicly traded stock — reclaiming the $90 mark for the first time in three weeks as evidence that sentiment around the vehicle has shifted.
Pandl's Confidence Call and What It Rests On Pandl's argument centers on market perception of STRC itself.
"Investors are now more confident about the instrument," he said, framing the equity as a gauge of how the broader market would absorb any Bitcoin sale Strategy might conduct.
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