Standard Chartered Bank: Although the current wave of bitcoin corporate holdings has pushed up buying pressure, it has buried potential selling risks

Standard Chartered Bank: Although the current wave of bitcoin corporate holdings has pushed up buying pressure, it has buried potential selling risks
PANews
PANews
BTC+0.37%

PANews reported on June 3 that according to CoinDesk, Geoff Kendrick, head of digital asset research at Standard Chartered Bank, warned that 61 listed companies currently hold a total of 673,800 bitcoins (accounting for 3.2% of the total supply), and if the price of bitcoin falls below the average purchase price of 22%, it may trigger companies to be forced to sell.

According to the report, Strategy (MSTR) holds 580,000 of them, accounting for the vast majority. Referring to the precedent of 2022 bitcoin miner Core Scientific being forced to sell 7,202 bitcoins when the price is 22% below cost, if bitcoin falls back below $90,000, half of the company's holdings will face the risk of loss. Although the current wave of bitcoin corporate holdings has pushed up buying pressure, it has also buried potential selling risks.

Show original
Visit source
11.7K
0
The content on this page is provided by third parties. Unless otherwise stated, OKX TR is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX TR. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX TR is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.