{"id":73707,"date":"2026-06-08T02:42:03","date_gmt":"2026-06-08T02:42:03","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/grayscale-warns-strategy-may-struggle-to-keep-buying-bitcoin\/"},"modified":"2026-06-08T02:42:03","modified_gmt":"2026-06-08T02:42:03","slug":"grayscale-warns-strategy-may-struggle-to-keep-buying-bitcoin","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/grayscale-warns-strategy-may-struggle-to-keep-buying-bitcoin\/","title":{"rendered":"Grayscale Warns Strategy May Struggle to Keep Buying Bitcoin"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Grayscale says Strategy\u2019s weaker shares may restrict future bitcoin purchases.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Dividend pressure from STRC could raise costs and increase BTC market volatility.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Analysts remain split as traders watch for another Strategy purchase disclosure.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Grayscale Flags Rising Risks to Strategy\u2019s <span>Bitcoin<\/span> Accumulation Machine<\/h2>\n<p>Strategy\u2019s <span>bitcoin<\/span> strategy is facing a new test as questions emerge about how long the company can sustain its aggressive accumulation model.<\/p>\n<p>Grayscale Head of Research Zach Pandl warned that Strategy (Nasdaq: MSTR) may have a limited ability to acquire additional <span>BTC<\/span> at current MSTR and STRC share prices. STRC, known as Stretch, is the company\u2019s variable-rate preferred equity instrument.<\/p>\n<p>\u201cIn a nutshell, Strategy\u2019s levered business model is under pressure, and this has increased the <span>volatility<\/span> for the <span>BTC<\/span> market as a whole,\u201d he said, adding:<\/p>\n<blockquote>\n<p>\u201cFurther, we think that Strategy\u2014which historically has been a net buyer of <span>BTC<\/span>\u2014will have a limited ability to accumulate more tokens at current share prices for both STRC and MSTR.\u201d<\/p>\n<\/blockquote>\n<p>The <a href=\"https:\/\/news.bitcoin.com\/strategy-sells-bitcoin-for-first-time-dumps-32-btc-to-fund-preferred-stock-dividends\/\">sale<\/a> disclosed last week marked Strategy\u2019s first <span>BTC<\/span> disposal since 2022, turning a small transaction into a major market signal. Strategy\u2019s dashboard showed MSTR at $120.44, down 6.90%, while <span>BTC<\/span> traded at $63,054 and the company held 843,706 <span>BTC<\/span>.<\/p>\n<h2>Strategy\u2019s Preferred Stock Becomes a New Test for Its <span>Bitcoin<\/span> Model<\/h2>\n<p>STRC is designed to trade near $100 and currently pays an 11.5% dividend. The dashboard showed the preferred stock at $93.40, below its target level, with an effective yield of 12.31%. That discount helps explain Grayscale\u2019s concern that the market may require higher returns, potentially forcing Strategy to raise its dividend and reducing flexibility for future <span>BTC<\/span> purchases.<\/p>\n<p>While Strategy\u2019s first <span>bitcoin<\/span> sale attracted significant attention, the Grayscale head of research argued that the market impact on the company\u2019s financing vehicles may be the bigger concern. \u201cEven more important, we think, is the impact of this recent <span>volatility<\/span> on the price of \u2018Stretch\u2019 (STRC), Strategy\u2019s variable-rate preferred equity instrument,\u201d he cautioned. \u201cAt current share prices, we think that the company\u2019s ability to accumulate more <span>bitcoin<\/span> is limited.\u201d<\/p>\n<p>Nonetheless, Pandl concluded:<\/p>\n<blockquote>\n<p>\u201cOver the long run, however, we believe that more diversified ownership of <span>bitcoin<\/span>\u2026 will help bolster the token price and improve market resilience.\u201d<\/p>\n<\/blockquote>\n<p>Despite its concerns about Strategy\u2019s financing model, Grayscale still expects <span>bitcoin<\/span> to recover over the coming months, although <span>BTC<\/span> may trail <span>crypto<\/span> market segments that benefit more directly from near-term regulatory clarity.<\/p>\n<p>Strategy\u2019s leadership, however, maintains that its accumulation strategy remains intact. CEO Phong Le said the company\u2019s <a href=\"https:\/\/news.bitcoin.com\/100x-reversal-strategy-may-have-bought-3200-btc-after-bitcoin-sale-standard-chartered-says\/\">goal<\/a> is to increase net <span>bitcoin<\/span> and <span>bitcoin<\/span> per share over time, while Executive Chairman Michael Saylor\u2019s \u201cA good time to add more dots\u201d <a href=\"https:\/\/news.bitcoin.com\/a-good-time-to-add-more-dots-saylor-sparks-bitcoin-buy-buzz-after-strategys-rare-btc-sale\/\">post<\/a> fueled expectations of another purchase disclosure.<\/p>\n<p>Standard Chartered\u2019s Geoffrey Kendrick also <a href=\"https:\/\/news.bitcoin.com\/100x-reversal-strategy-may-have-bought-3200-btc-after-bitcoin-sale-standard-chartered-says\/\">suggested<\/a> Strategy could soon announce a purchase of 320 <span>BTC<\/span> or even 3,200 <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">BTC<\/a>, dwarfing the recent 32 <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">BTC<\/a> sale. The bank has also maintained a $100,000 <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> target, highlighting how some market participants continue to focus on <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">BTC<\/a>\u2019s long-term upside despite concerns about Strategy\u2019s financing model.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/grayscale-warns-strategy-may-struggle-to-keep-buying-bitcoin\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Grayscale says Strategy\u2019s weaker shares may restrict future bitcoin purchases. Dividend pressure from STRC could raise costs and increase BTC market volatility. Analysts remain split as traders watch for another Strategy purchase disclosure. Grayscale Flags Rising Risks to Strategy\u2019s Bitcoin Accumulation Machine Strategy\u2019s bitcoin strategy is [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":73708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73707"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=73707"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73707\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/73708"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=73707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=73707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=73707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}