Grayscale's Pandl hopes Strategy sells $3B in Bitcoin to restore confidence

Grayscale's research head Zach Pandl said Strategy should sell $3 billion in Bitcoin to cover its cash obligations, but CryptoQuant argued the company has other ways to support STRC.

Zach Pandl, head of research at Grayscale, said he hopes Strategy will sell at least $3 billion in Bitcoin to cover most of the company’s cash obligations for the next two years.

In a Saturday X post, Pandl argued that the move may restore market confidence in the company's capital structure.

Contrary to his hopes, Pandl said he expects a 50-basis-point increase to the dividend rate on Strategy’s preferred stock, STRC, adding roughly $100 million in annual obligations over two years. Pandl added that this scenario “probably does not help market confidence.”

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