Standard Chartered backs Bitcoin despite Strategy selloff fears
The bank said uncertainty over Strategy’s treasury shift, not weaker fundamentals, drove the pullback and kept its year-end 2026 forecast intact.
- Standard Chartered reaffirmed its $100,000 Bitcoin price target for year-end 2026, arguing that recent selling linked to Strategy has not weakened the cryptocurrency's long-term outlook. Bitcoin climbed back above $64,000.
- Strategy shifted away from a "Bitcoin treasury" model toward a dynamic strategy, potentially selling up to $1.25 billion in Bitcoin to fund stock buybacks and interest payments on preferred stock and bonds.
- Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, dismissed the sales as "MOSTLY NOISE." Earlier this year, the announcement contributed to Bitcoin falling from around $80,000 to nearly $60,000.
- As Bitcoin recovered to trade near $64,500, institutional investors adjusted exposure; Wells Fargo increased its Strategy holding by 125%, adding about $41.5 million in exposure despite recent volatility.
- Standard Chartered noted that clearer communication regarding Strategy's treasury plans could further reduce concerns over future Bitcoin sales. Investor confidence may continue improving as uncertainty around the company's financing strategy fades.
16 Articles
16 Articles
Standard Chartered backs Bitcoin despite Strategy selloff fears
Bitcoin has climbed back above $64,000 after Standard Chartered reaffirmed its $100,000 year-end 2026 price target and argued that recent selling linked to Strategy has not weakened Bitcoin’s long-term outlook. Standard Chartered said the recent decline in Bitcoin was driven…
Standard Chartered Maintains $100,000 Bitcoin Forecast for End of 2026
Standard Chartered has maintained its $100,000 Bitcoin price target for the end of 2026, reaffirming the forecast even as recent market volatility and corporate treasury movements raised questions about near-term sentiment.Read more...
According to ChainCatcher, Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered, stated that the market misunderstood Michael Saylor's adjustment to Strategy Inc.'s Bitcoin strategy. Recent selling pressure stemmed from confusion surrounding the strategy, rather than a change in Bitcoin's long-term outlook. Strategy Inc. is shifting Bitcoin from a reserve accumulation asset to collateral backing STRC preferred stock. Ke…
Bitcoin.com
Cryptocurrency News | Cryptocurrency Prices | Market CapBitcoin Could Surge 56% as Markets Understand Saylor’s New BTC Strategy, Analyst Says
Bitcoin could rise toward $100,000 from around $64,000 if markets understand Michael Saylor’s shift in Strategy Inc.’s bitcoin approach, with Standard Chartered arguing that recent selling pressure reflects confusion over the strategy rather than a change in bitcoin’s long-term outlook. Why Saylor’s Bitcoin Strategy Has Created Market Uncertainty Strategy Inc.’s shift in its bitcoin approach […]
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