Standard Chartered: Strategy's Bitcoin Sales are 'Mostly Noise'

Standard Chartered is dismissing Strategy's recent Bitcoin sales as 'mostly noise' that doesn't affect the medium-term direction of the cryptocurrency. The bank is sticking to its end-2026 forecast of $100,000 for BTC.

Strategy sold 3,588 BTC between June 29 and July 5 to fund dividends on its preferred stock, known as STRC or 'Stretch', which pays a 12% annual dividend. This marked a shift from Strategy's long-standing policy of never selling Bitcoin.

The sales left Strategy with 843,775 BTC, worth around $54 billion at current prices. Standard Chartered notes that the premium on Strategy's shares has evaporated, and it is now trading below the value of its Bitcoin holdings.