Strategy's sale of 3,588 bitcoins will strengthen investor confidence in its financial model and help create a more sustainable bottom for the world's leading cryptocurrency, said Zach Pandl, head of research at Grayscale.

The analyst does not believe that the sale of even such a large amount of bitcoin is a sign of financial problems for the company, the largest public corporate holder of the world's leading cryptocurrency.

"Strategy is selling more bitcoin. But in our view, this will restore confidence in its financing structure. There is nothing wrong with Strategy's balance sheet. The company holds approximately $52 billion in bitcoin, and its debt is only $7 billion," Pandl explained.

He recalled that Strategy's management had previously announced its readiness to issue new shares and sell some bitcoin if necessary to build up sufficient cash reserves. These funds are intended to meet dividend payments to preferred shareholders.

Grayscale's head of strategy cited the rise in the price of STRC's preferred shares as proof of the effectiveness of this approach, which he believes reflects increased investor confidence in the company's financial model.

Earlier, Bitwise's chief investment officer, Matt Hougan, stated that Strategy will no longer be the primary source of demand for the cryptocurrency in the next Bitcoin market cycle.

The sale of 3,588 bitcoins by Strategy was hailed as a positive signal.