In short
- Public Company Solarbank said on Tuesday that it is planning to buy Bitcoin, according to the example of software company Strategy.
- A standard chartered analyst noted that half of all Bitcoin treasure boxes of all non-crypto-publiced companies would fall under water if it would fall below $ 90,000.
- Bitcoin was recently traded at $ 106,000, according to Coingecko data.
Energie -Infrastructure Company Solarbank is planning to add Bitcoin to his balance, according to a growing number of public companies that have started collecting the oldest cryptocurrency in the world, but an analyst warns that the strategy – the first popular with software company strategy – is risks.
In a memorandum for investors on Tuesday, Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick reported that strategy imitators have doubled their bitcoin holdings to slightly less than 100,000 bitcoin in the past two months, which means that their average costs per bitcoin are much higher than that of strategy.
As a result, about half of the Bitcoin treasure boxes of 61 non-Crypto Public Companies “would be under water if it fell under $ 90,000, according to Kendrick. Standard Chartered estimates that Bitcoin reaches a price “22% Below the average purchase prices can lead to liquidations.”
Bitcoin was recently traded at $ 106,000, according to Crypto data provider Coingecko.
“Bitcoin -price volatility in itself can stimulate the BTC price below the average purchase prices of many new treasuries,” is the Analyst Note.
Kendrick added that business Bitcoin treasuries could ultimately lower the price of Bitcoin, due to the removal of market-in efficiency such as anti-crypto regulations and conservative investment committee processes in the US and other countries in the future.
“Bitcoin treasuries are now wearing Bitcoin -buying pressure, but we see a risk that this can reverse this over time,” Kendrick wrote in the memorandum.
The observations of the analyst come amid an increase in the number of listed companies and other entities that Bitcoin buy.
On Tuesday, Solarbank in Canada, a supplier of solar energy, battery storage and clean energy infrastructure, announced a Bitcoin Treasury strategy, although it would not purchase the bottom of the assets that it would buy or a starting date.
Two hundred twenty-three-three entities hold Bitcoin from the publication, an increase of approximately 7% in the last 30 days, according to the BitcoinTracker.net data dashboard. Their interests are worth Bitcoin for a combined $ 359.7 billion, according to the same data.
It will also come a few weeks after Bitcoin had risen to a new all time of just over $ 112,000 earlier this month. The positive prize actions coincided with the private dinner of US President Donald Trump with 220 holders of his Meme Coin officer Trump on 22 May.
Kendrick gave the warning about Bitcoin Treasuries despite his bullish price forecasts for token.
Earlier this month, the analyst predicted that Bitcoin would sail from President Trump to $ 500,000 towards the end of the second term.
Published by James Rubin
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