Standard Chartered has kept its call for Bitcoin to reach $100,000 by the end of 2026, even as recent selling pressure stirred fresh debate around Strategy Inc.’s Bitcoin approach. Geoffrey Kendrick, the bank’s global head of digital assets research, said the market has misunderstood Michael Saylor’s adjustment to Strategy’s Bitcoin strategy.
According to Kendrick, the recent pressure was driven by confusion over how the company is using Bitcoin, not by any change in Bitcoin’s long-term outlook. He said Strategy is shifting Bitcoin’s role from a reserve accumulation asset to collateral backing its STRC preferred stock.
Kendrick also pointed to the capital structure around STRC, saying the preferred stock remains heavily overcollateralized because of Bitcoin support. He put the outstanding notional value of STRC at about $10 billion.
At the time of publication, BTC was trading at $64,322.89, while Strategy shares, listed under MSTR, closed Friday at $94.64. The update was cited by Bitcoin.com News and carried by Odaily.
Standard Chartered says market misread Strategy’s Bitcoin shift
Standard Chartered’s global head of digital assets research, Geoffrey Kendrick, said the market has misread Michael Saylor’s adjustment to Strategy Inc.’s Bitcoin strategy. He said the recent selling pressure came from confusion over that shift, not from any change in Bitcoin’s long-term outlook.
Bitcoin now seen as collateral for STRC
According to Kendrick, Strategy is moving Bitcoin away from its role as a reserve accumulation asset and toward use as collateral supporting STRC preferred stock. He kept his forecast for Bitcoin to reach $100,000 by the end of 2026.
Price levels and outstanding value
At the time of publication, BTC was trading at $64,322.89. Strategy shares, trading under MSTR, closed Friday at $94.64. Kendrick said STRC has about $10 billion in outstanding notional value and argued that Bitcoin backing leaves the preferred stock in a heavily overcollateralized position.
The report cited Bitcoin.com News.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
