StanChart Predicts Potential Forced Selling Among Current Corporate Bitcoin Holders

Standard Chartered Warns Corporate Bitcoin Holdings Could Face Forced Sales Amid Price Decline

As of May 2025, 61 publicly traded companies collectively hold approximately 673,897 bitcoins, representing 3.2% of the total bitcoin supply, according to a report from Standard Chartered analyst Geoff Kendrick.

These corporate bitcoin treasuries have contributed to recent buying momentum in the market. However, Kendrick cautions that a significant drop in bitcoin’s price could compel some companies to liquidate their holdings under pressure.

A majority of these assets are held by Michael Saylor’s MicroStrategy (MSTR), which owns 580,955 bitcoins alone.

Using the 2022 example of Core Scientific (CORZ), Kendrick highlights that if bitcoin prices fall more than 22% below the average purchase price, forced selling could be triggered. In June 2022, Core Scientific, facing financial strain, sold 7,202 bitcoins at an average price of $23,000 to generate about $167 million—an action driven by creditor demands and occurring just 22% below their cost of production.

Kendrick notes that should bitcoin’s price dip below $90,000, nearly half of these corporate bitcoin holdings would be underwater, increasing the likelihood of forced liquidations.