Standard Chartered: Strategy's Bitcoin Sale Could Signal ETH Outperforming BTC


June 2, Standard Chartered's Global Head of Digital Asset Research, Geoffrey Kendrick, stated that Strategy's recent sale of Bitcoin might mark the beginning of a new strong cycle for Ethereum relative to Bitcoin. Although Strategy only sold 32 Bitcoin at the end of May, accounting for about 0.004% of its 843.7k Bitcoin holdings, the market's reaction to this move is noteworthy. Kendrick believes, "Yesterday could be the starting point of ETH outperforming BTC."

This view continues Kendrick's research report released last week. He compares the current Ethereum to Amazon during the 2001 internet bubble burst, suggesting that despite ETH's recent weak performance, the core fundamentals of the Ethereum ecosystem are still improving, including growth in stablecoins, real-world asset (RWA) tokenization, and decentralized finance (DeFi).

Based on this assessment, Kendrick maintains a long-term optimistic outlook, expecting ETH to reach $4,000 by the end of 2026 and rise to $40k by the end of 2030. He believes that as Ethereum's importance in stablecoin settlement, asset tokenization, and on-chain financial activities continues to grow, its long-term value is likely to be sustainably unlocked.
BTC-3.25%
ETH-5.8%
View Original
[The user has shared his/her trading data. Go to the App to view more.]
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
Add a comment
Add a comment
GateUser-de6bfe77
· 13m ago
Buy the dip 😎
View OriginalReply0
  • Pinned