Geoff Kendrick, Standard Chartered's head of digital asset research, says ether could outperform bitcoin by 40% from current levels. The call comes as a company called Strategy — likely MicroStrategy or a similar firm — recently sold a chunk of bitcoin, stoking fears that other corporate treasuries might follow suit and unload holdings.
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The 40% gap
Kendrick's prediction isn't subtle. He expects ether to beat bitcoin by roughly 40 percentage points from where both trade today. That's a big spread for two assets that often move together. The call is based on a specific risk factor hitting bitcoin harder than ether.
Why bitcoin treasuries are a risk
The logic: companies that hold large piles of bitcoin might need to sell to cover debts or operational costs. If one big holder sells, others could panic or simply follow the same path. That kind of selling pressure would weigh more on BTC than on ETH, since ether doesn't have the same concentration of corporate treasuries. Kendrick cites that dynamic as the main reason for his forecast.
Strategy's sale spooks the market
This theory got a real-world test recently. An entity called Strategy — widely assumed to be MicroStrategy or a similar bitcoin-heavy firm — sold some of its holdings. The sale wasn't huge relative to total market cap, but it reminded everyone that these treasuries aren't locked up forever. For a market already sensitive to macro headwinds, that reminder rattled sentiment. Whether other corporations will now trim their positions is the open question — and the one that will decide if Kendrick's bet pays off.
