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Standard Chartered's Head of Digital Assets Research Geoffrey Kendrick told clients that bitcoin around $64,000 is "a screaming buy," reiterating the bank's year-end 2026 price target of $100,000. The call comes as Strategy (formerly MicroStrategy) faces renewed scrutiny over its preferred-share vehicle STRC and its pace of BTC accumulation.
Why it matters
Kendrick pushed back on the bear narrative around Strategy, arguing recent concerns reflect a communication problem rather than balance-sheet weakness. He expects STRC to recover toward its $100 par value, which would reduce the need for further bitcoin sales by Strategy to meet preferred-share obligations. For the market, that read matters: forced-selling risk has been one of the bigger overhangs on BTC since the preferred-route funding model became the dominant accumulation channel.
Market impact
A reiteration of a $100K year-end target from a major sell-side desk, paired with an explicit "screaming buy" label near current levels, adds a fresh institutional bid to the narrative. BTC's path back through $64K reopens the door for allocators who have been waiting for a re-entry point, and Standard Chartered's framing of STRC's discount as transitory rather than structural shifts the conversation away from liquidation risk toward optionality on the dollar-cost-averaging engine that has defined this cycle.
Frequently asked questions
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What did Standard Chartered say about bitcoin's price?
Head of Digital Assets Research Geoffrey Kendrick called bitcoin around $64,000 "a screaming buy" and reiterated the bank's year-end 2026 price target of $100,000.
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Why is Strategy's STRC preferred share in focus?
STRC has traded below its $100 par value, raising questions about whether Strategy would need to sell bitcoin to meet preferred-share obligations. Kendrick expects the instrument to recover toward par.
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What does Kendrick say is behind Strategy's recent pressure?
He described it as a communication problem rather than a balance-sheet weakness, arguing the concerns around Strategy have been overstated.
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How does the STRC view affect bitcoin selling by Strategy?
If STRC recovers toward par, Strategy's need to liquidate BTC to support the preferred would drop, reducing one of the major overhangs the market has priced into bitcoin recently.
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Why does a $100K year-end target matter for institutional flows?
A reiteration from a major sell-side desk at current levels gives allocators a fresh re-entry signal and reframes the recent drawdown as an accumulation window rather than a structural break.
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