Grayscale Research Head Pandl Urges Strategy to Sell $3B in Bitcoin; CryptoQuant Disagrees

News Editor

2026-06-28 07:59:28

Zach Pandl, head of research at Grayscale, suggested that Strategy (formerly MicroStrategy) sell $3 billion worth of Bitcoin to meet cash obligations and restore market confidence. In contrast, CryptoQuant argued the company has alternative methods to support its stock STRC without liquidating BTC holdings. The disagreement highlights the ongoing debate over risk management by large Bitcoin holders.

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Grayscale and CryptoQuant Differ on Strategy's Bitcoin Sale Proposal

Zach Pandl, Head of Research at Grayscale, recently advised that Strategy (formerly MicroStrategy) should sell approximately $3 billion of its Bitcoin holdings to cover upcoming cash debt obligations. Pandl believes this move would help restore market confidence in the company's financial health and reduce repayment risks associated with Bitcoin price volatility.

Grayscale Research Head Pandl Urges Strategy to Sell $3B in Bitcoin; CryptoQuant Disagrees 2

However, on-chain analytics firm CryptoQuant quickly pushed back, arguing that Strategy can support its stock STRC through other means such as bond issuance, equity financing, or asset restructuring — without resorting to a Bitcoin sell-off. CryptoQuant warned that a massive liquidation could trigger market panic and create short-term downward pressure on Bitcoin's price.

Strategy currently holds over 200,000 Bitcoin, worth tens of billions of dollars. Its cash flow status and any decision to reduce BTC holdings remain a focal point for the crypto market. The contrasting views from Pandl and CryptoQuant reflect differing perspectives on risk management strategies for large institutional holders.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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