Standard Chartered maintains its Bitcoin price prediction of $100,000 by the end of 2026

Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered, stated that the market misunderstands Michael Saylor's adjustment of Strategy Inc.'s Bitcoin strategy, and the recent selling pressure stems from confusion over this strategy rather than changes in Bitcoin's long-term outlook. Strategy Inc. is shifting Bitcoin from a reserve accumulation asset to collateral supporting STRC preferred shares. Kendrick maintains his prediction of Bitcoin reaching $100,000 by the end of 2026.

As of the time of publication, BTC is trading at $64,322.89, and Strategy stock MSTR closed at $94.64 on Friday. STRC has an implied nominal value of about $10 billion, and Kendrick believes that Bitcoin support places this preferred stock in a highly over-collateralized position.