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♦️Many companies and institutions around the world have begun to include Bitcoin in their investment portfolios, sometimes at large rates, and Standard Chartered Bank believes this could explode in everyone's face soon.
♦️In a recent report, the bank stated that companies that have recently joined the cryptocurrency wave are hoarding their currencies at high prices, and if the market suffers, they may quickly unload their currencies.. This is not only bad for them, but also bad for all other Bitcoin holders.
♦️According to Standard Chartered, the number of companies buying Bitcoin to hold on their balance sheets has doubled over the past two months, pushing their total holdings to nearly 100,000 coins.
♦️This increase has helped drive the recent price rise, but analyst Jeff Kendrick, who leads the digital asset research at the bank, said that buying pressure could reverse and crush the market if those companies decide to withdraw.. Corporate buyers face the risk of turning into forced sellers.
