SC maintains $100K BTC forecast, calls Strategy sell-off a communication issue

Standard Chartered has maintained its year-end price forecast of $100,000 for BTC, The Block reported. The bank stated that recent market weakness stemming from sales of BTC by Strategy (MSTR) is not due to financial health concerns but rather a lack of communication with the market about its strategic shift. Strategy has moved from its previous stance of never selling BTC to a policy that allows for sales when necessary to fund dividends for its preferred stock (STRC) and to increase its reserves. SC noted that if the price of STRC approaches its face value, the need for actual BTC sales would diminish. The bank views the issue as temporary noise rather than a signal that undermines the medium-to-long-term trend, diagnosing the current $64,000 price level as a strong buying zone.