Geoffrey Kendrick: Maintains bitcoin price prediction of $100,000 by the end of 2026
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Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered, stated that the market misinterpreted Michael Saylor's adjustment of Strategy Inc.'s Bitcoin strategy, and that recent selling pressure stemmed from confusion about this strategy. Strategy Inc. is shifting Bitcoin from a reserve accumulation asset to collateral supporting STRC preferred shares. Geoffrey Kendrick maintains his forecast of Bitcoin at $100,000 by the end of 2026. BTC is trading at $64,323, and Strategy stock MSTR closed at $94.64 on Friday. STRC has an undisclosed notional value of about $10 billion, and Geoffrey Kendrick believes Bitcoin backing puts the preferred shares in a state of significant over-collateralization. (an exchange News)
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