Standard Chartered: Holdings of 61 companies adopting Bitcoin strategies account for 3% of the total.

Gate News bot news, Standard Chartered Bank’s Global Digital Asset Research Head Geoff Kendrick stated in a report that publicly listed companies currently hold a total of 673,897 Bitcoins, and the Bitcoin reserve strategy trend has led at least 61 companies’ treasuries to hold 3.2% of the total.

In the past two months, the BTC Holdings of these companies have doubled, surpassing the purchase speed of Strategy under Michael Saylor.

In the report, Kendrick focused on the impact of Bitcoin’s increasing popularity as a financial asset and warned about the risks that rapid adoption of Bitcoin could pose to businesses.

The analyst stated: “The Bitcoin financial strategy is currently increasing buying pressure, but we believe this trend may reverse over time.”

The report shows that among the 61 companies analyzed, 58 have a net asset value (NAV) multiple greater than 1, indicating that their market valuation exceeds their net asset value.

“Currently, we believe this is due to market inefficiencies, including regulatory barriers to investor access and conservative investment committee processes,” Kendrick added: “But as these inefficiency issues are ultimately resolved, we think corporate Bitcoin reserves could become a source of downward price pressure and volatility.”

Source: Cointelegraph