$98.48
24h
+0.17%
10 Aug, 12:58
STRC expected to hold $95 support and move higher
Bullish+3.65%
AI Summary
The author views Strategy's plan to sell BTC and use USD reserves to support STRC buybacks as positive news, expecting STRC to hold the $95 level and move higher.
We should treat Strategy selling BTC to increase USD reserves and buyback STRC as good news imo.
Selling BTC is inevitable like I always said. The old version of STRC has a serious flaw and they need to rebuild trust by making sure STRC holders are going to be just fine.
And now the USD reserve is near $5B which is large enough to pay all related parties for a long time and STRC is at $95, and I expect Strategy to fight the selling pressure (STRC) and hold this line to keep the trust.
Overhang is gone. So right now we're... going up?