According to Odaily Planet Daily, 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. Kendrick maintained his Bitcoin price forecast of $100,000 by the end of 2026. As of press time, BTC was trading at $64,322.89, and Strategy Inc. stock (MSTR) closed at $94.64 on Friday. STRC has an outstanding notional value of approximately $10 billion, and Kendrick believes that Bitcoin backing puts the preferred stock in a highly overcollateralized position. (Bitcoin.com News)
Standard Chartered: Maintains Bitcoin's $100,000 forecast by the end of 2026
2026-07-11 22:35:23
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