The bank argues that the treasury giant's Bitcoin sales are a short-term distraction, reiterating its $100,000 year-end price target.

Grayscale says Strategy's Bitcoin sales restore market confidence by rebuilding dividend coverage to 17 months as STRC recovers from its lows.

Strategy sold $216M in Bitcoin, prompting reassessment of STRC's prospects. STRC hitting $100 by December at 55% YES.