Standard Chartered’s Kendrick Says Market Misread Strategy’s Bitcoin Shift, Keeps $100,000 2026 Forecast

Standard Chartered’s global head of digital asset research, Geoffrey Kendrick, said the market has misunderstood Michael Saylor’s adjustment to Strategy Inc.’s Bitcoin approach, and that recent selling pressure has come from confusion about the strategy rather than a change in Bitcoin’s long-term outlook. According to Odaily, Kendrick said Strategy is shifting Bitcoin from a reserve accumulation asset to collateral supporting its STRC preferred shares. Kendrick maintained his forecast that Bitcoin will reach $100,000 by the end of 2026. At the time of reporting, Bitcoin was trading at $64,322.89, and Strategy’s stock (MSTR) closed at $94.64 on Friday. Odaily reported that STRC has an unpaid nominal value of about $10 billion, and Kendrick said Bitcoin backing leaves the preferred shares in a state of high over-collateralization.