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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.