A well-known trader stated that Strategy's OTC selling of cryptocurrencies has limited impact on spot prices, and Bitcoin could potentially reach as high as $65,600.
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Financial trader Peter L. Brandt: Considering selling some of his Bitcoin and buying gold.
According to Foresight News , financial trader and Factor LLC CEO Peter L. Brandt stated that he is considering selling some of his Bitcoin and using the proceeds to buy gold. He believes the price of gold will rise significantly, exceeding the price of Bitcoin.
Strategy, holding 847,363 BTC, was advised to generate income through lending or options rather than selling BTC.
According to a research report published on July 3rd by Alex Thorn, Head of Research at Odaily Digital, Strategy should explore generating revenue from its BTC holdings rather than directly selling physical BTC. Strategy previously launched a five-part Digital Credit Capital Framework, including a dollar reserve policy, a revised STRC dividend policy, a $1 billion preferred stock buyback mandate, a $1 billion MSTR stock buyback mandate, and a BTC monetization plan, increasing the STRC annual dividend yield from 11.5% to 12%. Strategy currently holds 847,363 BTC and has raised over $1 billion through common stock sales, extending its cash coverage period to approximately 17 months. Thorn stated that Strategy could use a small portion of its BTC for conservative lending or options strategies, generating revenue while retaining most of its upside exposure. Strategy still faces preferred stock obligations and $6.7 billion in outstanding convertible debt maturing in 2027 and 2028. (Bitcoin.com News)
Trader Peter Brandt: Considering selling some of his Bitcoin in exchange for gold
PANews reported on July 6th, citing CoinDesk, that veteran trader Peter Brandt is considering selling some of his Bitcoin holdings and buying gold, believing that gold will rise significantly against Bitcoin. Brandt pointed out that the XAU/BTC chart shows a rounded bottom pattern, suggesting that the downward trend of gold relative to Bitcoin over the past decade may have reversed, and the ratio is beginning to rise. Both BTC and gold have been under pressure recently, but Bitcoin has performed significantly worse—falling 20% in June to below $60,000, its worst monthly performance in four years, while gold fell 11.7% during the same period. Year-to-date, Bitcoin is down 28%, and gold is down 3.9%.
JPMorgan Chase: Strategy's Bitcoin Selling Strategy May Exacerbate Market Volatility Risk
PANews reported on July 2nd that, according to CoinDesk, Wall Street bank JPMorgan Chase stated in a recent report that MicroStrategy's (referred to as Strategy in the text) selective sale of BTC for preferred stock dividends introduces "two-way" liquidity risk, increasing uncertainty in the crypto market. The report points out that Strategy currently has approximately $2.55 billion in cash reserves, enough to cover approximately 17 months of preferred stock dividends and interest. However, analysts believe that Strategy should increase this coverage to 24-36 months by issuing new common stock to reduce the possibility of future forced sales. Strategy currently holds approximately 847,000 BTC, representing about 4% of the total Bitcoin supply, and has accumulated approximately $13.7 billion in purchases this year, accounting for about 70% of the market's net inflows.
Morning Minute: Strategy CEO Says Selling The Bottom Was Correct Move
Strategy sold millions in Bitcoin in the low $60k range and just rebought at $80k. Now they’re sharing the rationale behind the moves.
'The Right Trade': Strategy CEO Has No Regrets Selling Bitcoin at $60K Before Buying Back Higher
Phong Le said Strategy’s cost of capital—not Bitcoin’s price—drove its decision to sell nearly 7,000 BTC before resuming purchases above $80,000.