[Standard Chartered Bank Maintains $100,000 Bitcoin Target, Cites Insufficient Strategy Communication]
According to The Block, Standard Chartered Bank has maintained its forecast that Bitcoin will reach $100,000 by the end of 2026, stating that recent market pressure is related to insufficient communication following Strategy's adjustment of its Bitcoin strategy. Strategy is positioning Bitcoin as a credit support tool for its perpetual preferred stock STRC. Previously, after the company disclosed its Bitcoin sales, the price of STRC temporarily deviated from its $100 face value. Standard Chartered Bank believes that if the market understands this new arrangement, the price of STRC is likely to return to its face value, thereby alleviating short-term downward pressure on Bitcoin.
