Standard Chartered: "Bitcoin corporate purchases surge... Concern over market shock if mass sell-off occurs"
Summary
- Standard Chartered recently reported that corporate Bitcoin purchases have doubled.
- Companies' total Bitcoin holdings are approaching 100,000, with this buying momentum leading the recent price increase.
- However, it was warned that a collective sell-off by companies could apply strong downward pressure on the market.
Recently, corporate Bitcoin purchases have been active, raising warnings that a collective sell-off by these companies could cause a significant shock to the market in the future.
According to CryptoPolitan on the 5th (local time), Standard Chartered stated in its recent report that "the number of companies adding Bitcoin to their balance sheets has doubled over the past two months."
The report notes that the total Bitcoin holdings by these companies are approaching 100,000, and this buying momentum has been identified as one of the main factors driving the recent price rise.
However, Geoff Kendrick, Head of Digital Assets (Cryptocurrency) Research at Standard Chartered, warned, "If companies were to offload their holdings all at once, it could exert significant downward pressure on the market," adding, "This would negatively impact not only those companies but also all investors holding Bitcoin."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
