Standard Chartered suspects Strategy could announce a bitcoin purchase of either 320 BTC or 3,200 BTC following the company's sale of 32 BTC this week. Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, based the expectation on Strategy's Dec. 2022 pattern, when the company sold 704 BTC for tax optimization then bought 810 BTC two days later. The speculation emerged as bitcoin tested support above $59,100 while corporate bitcoin treasury models faced renewed scrutiny during broader market weakness.
Strategy Sold 704 BTC in Dec. 2022 Then Bought 810 BTC Two Days Later
Standard Chartered's analysis centers on Strategy's historical response to bitcoin sales. The company sold 704 BTC on Dec. 22, 2022, for tax optimization, then purchased 810 BTC two days later, establishing a precedent for renewed accumulation after disposals. Kendrick wrote that the buying following the recent selling could be "more aggressive," estimating either a 10x increase (320 BTC) or a 100x increase (3,200 BTC) relative to the 32 BTC sale.
Strategy still holds 843,706 BTC. Executive Chairman Michael Saylor posted "A Good Time to Add More Dots" alongside Strategy's bitcoin tracker this week. Bitcoin held above a $59,100 low while short-term charts showed oversold conditions and resistance near $63,000 to $64,000.
Standard Chartered forecasts BTC at $100,000 by the end of 2026, rising to $200,000 in 2027, $300,000 in 2028, $400,000 in 2029, and $500,000 by 2030. The bank also projects ETH at $4,000 by the end of 2026, followed by $10,000 in 2027, $18,000 in 2028, $28,000 in 2029, and $40,000 by 2030. Kendrick wrote that "when we look back at the end of 2026 with BTC at $100K and ETH at $4K we will say this was the buying zone we all wanted."
Spot Bitcoin ETF Holdings Remain Near 674,000 BTC as $1.5 Billion in Futures Liquidated
Spot bitcoin ETF holdings increased from about 682,000 BTC before falling back to roughly 674,000 BTC, leaving exposure broadly unchanged despite recent market weakness, Standard Chartered noted. Approximately $1.5 billion in BTC futures positions were liquidated this week, a scale similar to the separate liquidation waves from Jan. 29-31 and Feb. 3-6.
Standard Chartered stated that with ETF holdings broadly unchanged at about 674,000 BTC and leverage reduced through liquidations, the sources of further downside pressure appear less obvious than earlier this year. The bank's view is that additional selling pressure may be harder to find if Strategy emerges as a net buyer.
FAQ
What did Strategy sell this week?
Strategy sold 32 BTC this week. Standard Chartered suspects the company may follow with a purchase of either 320 BTC or 3,200 BTC based on a Dec. 2022 precedent when Strategy sold 704 BTC then bought 810 BTC two days later.
How much bitcoin does Strategy currently hold?
Strategy holds 843,706 BTC. The company's holdings remain closely tied to BTC price movements and future purchase expectations.
What are Standard Chartered's bitcoin price forecasts?
Standard Chartered forecasts BTC at $100,000 by the end of 2026, $200,000 in 2027, $300,000 in 2028, $400,000 in 2029, and $500,000 by 2030.
