Standard Chartered Bank: Maintains year-end bitcoin target of $100,000, says Strategy sell-off is just a signaling issue

Foresight News reported, according to The Block, that Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered Bank, stated in a research report that he maintains his price prediction of $100,000 for Bitcoin by the end of 2026. He believes that the recent market pressure caused by Strategy's Bitcoin sales stems from inadequate communication about its strategic shift, rather than a deterioration of its balance sheet. Kendrick pointed out that Strategy is moving from a "never sell Bitcoin" stance to using BTC as a credit backing for its perpetual preferred stock, STRC. Once the market understands this new mechanism, STRC should return to around its $100 face value, and the downward pressure on Bitcoin will subside accordingly. He characterized the current Bitcoin price of $64,000 as an "extremely attractive buying opportunity." Last week, Strategy sold 3,588 BTC, cashing out approximately $216 million—its largest single sale to date—with the proceeds used to pay preferred stock dividends and replenish reserves.