Standard Chartered Stands Firm on $100K Bitcoin Target Amid Strategy Concerns

Standard Chartered reaffirmed its $100,000 year-end 2026 price target for Bitcoin despite recent market volatility. According to the bank, concerns over Strategy's treasury approach have driven the market pullback, not any deterioration in Bitcoin's fundamentals.

The bank's Global Head of Digital Assets Research, Geoff Kendrick, stated that investors have largely misunderstood Strategy's evolving use of its Bitcoin holdings. Rather than relying mainly on debt and equity issuance to accumulate Bitcoin, the company is increasingly using its treasury to support credit-focused products, including its perpetual preferred stock, STRC.

Standard Chartered argued that clearer communication around Strategy's treasury plans could help reduce concerns over future Bitcoin sales, comparing this situation to central banks using consistent policy signals to build market confidence.

Institutional positioning continues to evolve as Wells Fargo increased its holding in Strategy by 125% and expanded its crypto options positions. The bank also reduced its position in BlackRock's iShares Bitcoin Trust and opened a new IBIT call position, indicating a more balanced options strategy.