Standard Chartered: Maintains Bitcoin $100,000 Forecast by End of 2026

Odaily Planet Daily News According to Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, the market has misinterpreted Michael Saylor's adjustment to Strategy Inc.'s bitcoin strategy, and the recent selling pressure stems from confusion over the strategy rather than a change in bitcoin's long-term outlook. Strategy Inc. is shifting bitcoin from a reserve accumulation asset to collateral supporting its STRC preferred stock. Kendrick maintained his forecast for bitcoin at $100,000 by the end of 2026. As of press time, BTC was trading at $64,322.89, and Strategy stock MSTR closed at $94.64 on Friday. With the outstanding nominal value of STRC at approximately $10 billion, Kendrick believes that the bitcoin backing places the preferred stock in a state of high over-collateralization. (Bitcoin.com News).