Standard Chartered: 61 Public Companies Hold 673,800 Bitcoins, Risk of Corporate Sell-off if Price Falls 22% Below Average Holding Price

BlockBeats reports that on June 3, according to CoinDesk, Geoff Kendrick, head of digital asset research at Standard Chartered Bank, stated that currently 61 publicly listed companies collectively hold 673,800 Bitcoins (accounting for 3.2% of the total supply). If the Bitcoin price falls below the average purchase price by 22%, it may trigger forced selling by these companies.

The report points out that Strategy (MSTR) holds 580,000 of these Bitcoins, making up the vast majority. Referring to the precedent set in 2022 when Bitcoin mining company Core Scientific was forced to sell 7,202 Bitcoins when the price fell 22% below the cost price, if Bitcoin falls below $90,000, half of the companies' holdings will face the risk of loss. Although the current wave of Bitcoin holdings by companies has increased buying pressure, it also poses a potential risk of selling.