Standard Chartered Bank: 61 Listed Companies Hold 673,800 Bitcoins, If Price Falls Below Average Holding Price by 22% or Triggers Corporate Sell-off Risk

BlockBeats News, June 3rd, according to a CoinDesk report, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered Bank, stated that currently, 61 publicly listed companies collectively hold 673,800 bitcoins (3.2% of the total supply). If the Bitcoin price falls below the average purchase price by 22%, it may trigger forced selling by corporations.

The report pointed out that MicroStrategy (MSTR) holds the majority with 580,000 bitcoins. Referring to the precedent in 2022 when the Bitcoin mining firm Core Scientific was forced to sell 7,202 bitcoins at a loss when the price fell below 22% of the cost basis, if Bitcoin falls below $90,000, half of the corporate holdings will face the risk of loss. While the current wave of corporate Bitcoin holdings has boosted buying pressure, it has also laid the groundwork for potential selling pressure.