TechFlow news, July 10, according to The Block, Standard Chartered Bank stated that it maintains the forecast that Bitcoin will reach $100,000 by the end of 2026, believing that recent market pressure is mainly related to insufficient communication following Strategy's adjustment of its Bitcoin strategy, rather than a deterioration of its balance sheet.
Strategy is shifting from "never selling Bitcoin" to using Bitcoin as a credit support instrument for its perpetual preferred stock STRC. Previously, after the company disclosed the sale of Bitcoin, the STRC price once deviated significantly from the $100 par value. Standard Chartered believes that if the market gradually understands this new arrangement, the STRC price is expected to recover, thereby alleviating downward pressure on Bitcoin's short-term price.
