Standard Chartered Stands Firm on $100,000 Bitcoin Target Amid Strategy Sales

Standard Chartered has reaffirmed its Bitcoin price target of $100,000 for the end of 2026. The bank's global head of digital assets research, Geoffrey Kendrick, views recent selling by Strategy as a 'communication challenge' rather than a sign of weakening fundamentals.

Strategy sold 3,588 BTC between June 29 and July 5, using the proceeds to fund preferred-stock dividend payments and increase its cash reserve. The company now holds 843,775 BTC, representing more than 4% of Bitcoin's maximum 21 million supply.

The sale followed a smaller disposal of 32 BTC in early June, marking a notable departure from Strategy's long-standing positioning as a company that would continuously accumulate Bitcoin without selling it.

Kendrick argued that credible communication about the monetization program could support STRC's return toward its $100 par value and reduce pressure on Bitcoin. The bank expects STRC to move closer to par, limiting the risk of further Bitcoin selling and reducing near-term downward pressure on the cryptocurrency.