Does the Strategy sell 32 BTC to trigger the ETH flip narrative? Institutions are really good at playing the narrative, but I remain skeptical about the 40k-dollar target by April 2030; this time span is even longer than my dollar-cost averaging cycle.

[Standard Chartered Bank: Strategy’s Sale of Bitcoin Could Be the Start of ETH Outperforming BTC]

Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, said that Strategy’s recent move to sell Bitcoin may mark the beginning of a new round of strong outperformance for Ethereum relative to Bitcoin. Although Strategy sold only 32 Bitcoins at the end of May, accounting for about 0.004% of its 843,700 Bitcoins holdings, the scale is insignificant, but the market’s reaction to it is worth watching. Kendrick believes that yesterday may have been the starting point for ETH beginning to outperform BTC relative to BTC.

This view continues the research report Kendrick published last week. He compares current Ethereum to Amazon during the period when the dot-com bubble burst in 2001, and believes that although ETH’s performance has been relatively weak in the recent period, the core fundamentals of the Ethereum ecosystem are still improving steadily, including growth in stablecoin, real-world asset (RWA) tokenization, and decentralized finance (DeFi).

Based on the above judgment, Kendrick maintains his long-term optimistic outlook, expecting the ETH price to reach $4,000 by the end of 2026 and rise to $40,000 by the end of 2030. He believes that as Ethereum’s importance continues to increase in stablecoin settlement, asset tokenization, and on-chain financial activities, its long-term value is expected to keep being released.
$SOL