Woofun AI reports that Standard Chartered maintains its Bitcoin price target of $100,000 by the end of 2026. The bank asserts that recent market volatility linked to Strategy (formerly MicroStrategy) reflects a strategic capital adjustment rather than a deterioration in the company's balance sheet health.

Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, noted that Strategy is transitioning from a pure accumulation model to using Bitcoin holdings as credit support for its perpetual preferred stock, STRC. With Strategy's mNAV approaching 1, the leverage effect of previous stock issuances is weakening. Kendrick stated that Strategy holds 843,775 Bitcoins and possesses approximately $2.55 billion in dollar reserves, covering an estimated 17.4 months of dividend expenses for the $10 billion STRC instrument. He believes that if the market accepts this new capital structure, actual Bitcoin sales may not be necessary to stabilize the STRC price.