Grayscale’s move is quite interesting—selling BTC to protect the USD instead ends up “backstopping” the downside. Institutions are starting to play with risk management now.

BTC1.66%
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CoinNetwork
Coin World News, Grayscale's Zach Pandl said that the company's strategy shift to selling Bitcoin as needed to support its dollar reserves could reduce tail risk and potentially help Bitcoin find a more durable bottom.
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