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Standard Chartered Strategy reduces Bitcoin holdings or signals ETH is starting to outperform BTC

MarsBitNews
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Abstract generation in progress
Mars Finance News, according to The Block, reports that Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, stated that Strategy's reduction of 32 bitcoins last week could mark the beginning of a new round of "outperforming" for Ethereum relative to Bitcoin. Kendrick pointed out that although the reduction was "very small," amid Bitcoin's decline on that day, ETH/BTC experienced a rare significant upward move in recent years. He predicts that by the end of this year, ETH/BTC will rise to about 0.04, currently around 0.028. Kendrick maintains a target of $4,000 for Ethereum's price by the end of the year and $40k by 2030, and he said that Ethereum's treasury company can earn about 3% staking yield with "zero need" to sell tokens, making it easier to achieve higher net asset multiples (mNAV) and financing capacity compared to Bitcoin's treasury company.
BTC-5.86%
ETH-4.44%
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ReadingContractsUntilMyEyesAre
· 4h ago
mNAV and financing ability, in simple terms, is using coins to generate money without selling them
View OriginalReply0
GateUser-6bc62511
· 4h ago
ETH/BTC bottom rebound, but is the target of 0.04 by the end of the year too optimistic?
View OriginalReply0
SlippageAfterTheRain
· 4h ago
Kendrick has been bullish on ETH, and this time he added to his position again.
View OriginalReply0
ShortPositionsAtTheElevator
· 4h ago
Staking 3% yield covers expenses; this model is indeed attractive for treasury companies.
View OriginalReply0
GateUser-deff9ed8
· 4h ago
Selling 32 BTC in Strategy can trigger the ETH narrative; the market is really sensitive.
View OriginalReply0

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