Bitcoin sale by Strategy sparks talk of ETH-led outperformance

Standard Chartered’s Geoffrey Kendrick argues that Strategy’s tiny sale of 32 BTC could mark the start of Ethereum outperformance vs. Bitcoin, aided by ETH’s staking yield which means Ethereum treasuries don’t need to sell ETH. He maintains bullish ETH targets of $4,000 by end-2026 and $40,000 by 2030, and sees the ETH-BTC ratio rising to about 0.040 by year-end. BTC trades near $68,700 and ETH around $1,975, with Strategy’s stock down, while Ethereum treasuries are positioned to regain higher net asset values as ETH demand grows in stablecoins, tokenized assets and DeFi.