Summary
- Standard Chartered stated that listed companies' Bitcoin accumulation strategies are increasing short-term buying pressure.
- It was mentioned that if prices fall, companies may face forced selling, citing the 2022 case of Core Scientific.
- The report notes that if the Bitcoin price falls 22% below companies' average purchase cost, more than half of companies may enter loss territory.
Corporate Bitcoin (BTC) accumulation strategies are currently increasing buying pressure, but there is an analysis that forced selling could occur in the future.
On the 3rd (local time), Standard Chartered stated in a report, "As of the end of May, 61 listed companies hold a total of 673,897 BTC (3.2% of supply)," adding, "They are increasing short-term buying pressure, but if prices fall, forced selling could occur."
Standard Chartered mentioned the 2022 Bitcoin sell-off by Core Scientific. The report said, "Core Scientific was forced to sell Bitcoin after creditors refused to provide funding," adding, "At that time, Bitcoin's price was 22% below Core Scientific's average purchase price."
Furthermore, the report added, "If Bitcoin falls to a level 22% below the corporate average purchase price, forced selling of holdings may occur," and explained, "If it drops below $90,000, more than half of the companies will enter a loss zone."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
![[Exclusive] KakaoBank meets with global custody heavyweight…possible stablecoin partnership](https://media.bloomingbit.io/PROD/news/a954cd68-58b5-4033-9c8b-39f2c3803242.webp?w=250)
![Trump ally Myron, a Fed governor, resigns White House post…pushing for rate cuts until Warsh arrives? [Fed Watch]](https://media.bloomingbit.io/PROD/news/75fa6df8-a2d5-495e-aa9d-0a367358164c.webp?w=250)
