Standard Chartered: Strategy to Sell Bitcoin or Start of Outperforming BTC with ETH

June 2: Standard Chartered Bank’s Global Head of Digital Assets Research, Geoffrey Kendrick, said that Strategy’s recent Bitcoin sale could mark the start of a new period where Ethereum outperforms Bitcoin. Even though Strategy only offloaded 32 bitcoins at the end of May—accounting for roughly 0.004% of its 843,700 BTC holdings, a negligible sum—the market’s reaction to this move is notable. Kendrick thinks “yesterday might have been the turning point for ETH to outperform BTC.” This take builds on Kendrick’s research report released last week. He compared current Ethereum to Amazon in 2001, right after the dot-com bubble burst, arguing that despite ETH’s relatively weak recent price action, the core fundamentals of the Ethereum ecosystem are still improving. Key areas of growth include stablecoins, Real World Asset (RWA) tokenization, and Decentralized Finance (DeFi). Building on that analysis, Kendrick is sticking to his long-term bullish outlook: he forecasts ETH will hit $4,000 by the end of 2026, and jump to $40,000 by the end of 2030. He believes as Ethereum’s importance in stablecoin settlements, asset tokenization, and on-chain financial activities keeps growing, its long-term value will continue to unlock.