The Standard Chartered Bitcoin target isn’t moving even as Strategy stock wobbles. The bank reaffirmed its $100,000 end-2026 forecast this month. Analyst Geoffrey Kendrick called Bitcoin a screaming buy at $64,000. He argues Strategy’s recent selloff reflects a communication problem, not a weakening Bitcoin outlook.
Why the Standard Chartered Bitcoin Target Survives Strategy’s Wobble
Kendrick, the bank’s global head of digital assets research, says Strategy is pivoting away from its old approach. Strategy has long promised to never sell Bitcoin. That pledge is shifting toward a more complex plan tied to its preferred stock. Bitcoin’s price has also been pressured by a stronger U.S. dollar in recent weeks, adding another layer to the story.
The mNAV Math Behind Strategy’s Old Playbook
Between 2020 and mid-2025, Strategy’s mNAV traded above 1.0. That premium let the company issue shares, buy Bitcoin, and grow value faster than the new stock diluted it. Convincing the market it would never sell was the load-bearing part of that model. A recent explainer on why that premium has faded across the sector puts Strategy’s math in context.
Inside the STRC Feedback Loop
STRC pays a 12 percent annual dividend, settled twice a month in cash. The rate resets monthly to keep the security near its $100 par value. A negative feedback loop took hold once STRC broke from par, hitting an intraday low of $71.25 on June 26. A recent segment on the broader selloff and institutional adoption walked through exactly that kind of shift.
Standard Chartered Bitcoin Target Holds as Saylor Keeps Selling
That divergence began after Strategy disclosed on June 1 that it had sold 32 BTC, right as the Standard Chartered Bitcoin target debate intensified. STRC still trades near $90, per Standard Chartered. The USD reserve for STRC dividends stands at $2.55 billion, or 17.4 months of coverage. Saylor’s team kept selling small amounts after that, and last week’s larger disposal shows the pattern accelerating rather than reversing.
What the Standard Chartered Bitcoin Target Means Next
Strategy has announced a monetization program that lets it sell Bitcoin periodically, with proceeds of up to $1.25 billion going toward refilling the reserve. Given its Bitcoin backing, Kendrick says STRC is over-collateralized and should trade back toward $100. That reasoning underpins the Standard Chartered Bitcoin target too. The bank had cut this same forecast twice before reaffirming it this month.
JPMorgan analysts have said the formal sale policy introduces avoidable two-way risk by making Strategy both buyer and seller. Until Strategy’s communication catches up with its new plan, the Standard Chartered Bitcoin target will keep facing skepticism from some corners of the market. Canadian investors watching this space should expect the volatility around Strategy to keep bleeding into Bitcoin’s own price action.
