Standard Chartered Doubles Down On $100,000 Bitcoin Price Target

British bank Standard Chartered (LON:STAN.LN) has doubled down on its year-end $100,000 U.S. price target for Bitcoin (CRYPTO:$BTC).

Standard Chartered maintained its 2026 Bitcoin forecast of $100,000 U.S., arguing that Strategy's (NASDAQ:$MSTR) shift to using BTC as collateral for its preferred stock is a "communication problem" rather than a solvency issue.

Strategy's preferred stock (NASDAQ:$STRC) hit an intraday low of $71.25 U.S. on June 26 against a $100 U.S. par value.

Standard Chartered traces the problems with the preferred stock to the June 1 disclosure that Strategy sold 32 Bitcoin, startling investors.

Strategy's move away from its previous "never sell" policy is muddying Bitcoin's prospects, writes crypto analyst Geoffrey Kendrick.

Kendrick calls on Strategy to improve its communications with investors, which, he argues, will determine how quickly Bitcoin's price recovers and moves higher.

Strategy continues to own 843,775 Bitcoin, more than 4% of the 21 million BTC circulating supply. That makes the company strategically important to Bitcoin, says Kendrick.

Strategy is now moving to sell some of its Bitcoin holdings to pay the 12% annual dividend yield on its preferred stock, pressuring Bitcoin as a result.

Kendrick expects the preferred stock's price to return to its $100 U.S. par value soon, which will limit further downward pressure on Bitcoin.

The analyst writes that the current issues with Strategy are noise rather than a signal about Bitcoin's direction. He concludes that at $64,000 U.S. currently, BTC is "a screaming buy."