The Move Is Only A "Tweak" In Strategy
In an interview with Laura Shin on July 7, Apex Chief Investment Officer Parker White highlighted that Strategy sold the Bitcoin at an average price of about $60,197.
The proceeds will be used to extend its U.S. dollar reserve and support dividend obligations tied to its preferred securities.
White said the sale should be viewed less as a retreat from Bitcoin and more as proof to credit markets and ratings agencies showing that Strategy can monetize its BTC holdings when needed.
He argued that rating agencies currently assign little value to Bitcoin on Strategy’s balance sheet, leaving its preferred with a junk rating. This is despite the company holding one of the world’s largest Bitcoin treasuries.
