Standard Chartered maintains Bitcoin price target at 100000 by 2026

Bitcoin has risen above 64000 after Standard Chartered reaffirmed its price target of 100000 for the end of 2026, stating that recent selling linked to Strategy has not impacted Bitcoin's long-term outlook. The bank attributed the recent market pullback to concerns over Strategy's treasury approach rather than Bitcoin's fundamentals. Standard Chartered emphasized that the latest decline should not be seen as a shift in the long-term bullish case for Bitcoin. Geoff Kendrick, the bank's Global Head of Digital Assets Research, noted that investors have misunderstood Strategy's evolving use of its Bitcoin holdings, which now focuses more on treasury support for credit products rather than relying solely on debt and equity issuance. This shift has changed some investors' perceptions of Strategy's role in the Bitcoin market. Standard Chartered suggested that clearer communication from Strategy regarding its treasury plans could alleviate concerns about future Bitcoin sales. Earlier this year, a sale by Strategy led to a significant market reaction, causing Bitcoin to drop from around 80000 to nearly 60000. Despite this, Standard Chartered maintained its forecast, arguing that the market overreacted to uncertainty surrounding Strategy. As Bitcoin trades near 64500, institutional investors have adjusted their exposure to Strategy and crypto products. Wells Fargo disclosed a 125% increase in its holding of Strategy, raising its position to nearly 726000 shares, while also reducing its position in BlackRock's iShares Bitcoin Trust. The bank's SEC filing indicated a balanced options strategy amid market uncertainty, and it also increased exposure to Ethereum and Solana products, reflecting ongoing institutional interest in digital assets.

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