Standard Chartered is maintaining its end-2026 bitcoin price forecast of $100,000, arguing that recent weakness driven by Strategy Inc. (MSTR) reflects a failure to explain a strategic shift rather than any deterioration in the company's balance sheet.
Strategy's actions are muddying bitcoin's near-term prospects, Geoffrey Kendrick, the bank's global head of digital assets research, wrote in a note shared with The Block on Friday. "I see what is happening at MSTR right now as a communication challenge, nothing more," Kendrick wrote.
The company appears to be moving away from its "never sell bitcoin" mantra toward a more complex approach, and clear communication of that pivot will determine how quickly the pressure on bitcoin lifts, Kendrick opined.
From an accumulation vehicle to a credit backing
Strategy owns 843,775 bitcoins (BTC), more than 4% of the 21 million BTC supply that will ever exist.
