Bitcoin-MSTR Panic Is ‘Mostly Noise’ – BTC A ‘Screaming Buy’ At $64K, Says Standard Chartered
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Standard Chartered's Geoff Kendrick kept his year-end Bitcoin forecast at $100,000 and said concerns about Strategy's recent BTC sales are "mostly noise."
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The analyst added that Strategy's Bitcoin holdings are evolving from an accumulation asset into collateral supporting its STRC preferred stock.
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He also noted that Strategy has a $2.55 billion cash buffer, which can generate 17 months' worth of STRC dividend payments, reducing the need for future Bitcoin sales.
Standard Chartered's Geoff Kendrick maintained his $100,000 target for Bitcoin (BTC) on Friday, and said concerns around Strategy (MSTR) selling the apex cryptocurrency are "mostly noise."
"I see what is happening at MSTR right now as a communication challenge, nothing more," Geoffrey said in an email. "Michael Saylor is trying to tell investors that the purpose of the Bitcoin MSTR owns has changed." He added that Bitcoin at $64,000 is a "screaming buy" alongside MSTR's stock, currently trading at around $94.
MN Fund Founder Michael van de Poppe echoed a similar sentiment, adding that while many investors may not buy Bitcoin at $60,000 because they anticipate the price to fall to $40,000, the apex cryptocurrency is still likely to hit $ 500,000 in the coming years.
Bitcoin's price rose over 2% in the last 24 hours, trying to hold above the $64,000 threshold but running into resistance at $65,000. Retail sentiment around the leading cryptocurrency on Stocktwits trended in 'bullish' territory over the past day, accompanied by 'normal' levels of chatter.
Meanwhile, MSTR's stock price gained 2.5% in morning trade, with retail sentiment also trending in 'bullish' territory over the past day. Chatter remained at 'low' levels.
MSTR's Pivot From Accumulation To Collateral
Strategy, the largest Bitcoin treasury company and holder of 843,775 BTC after announcing it had sold over 3,500 BTC on Monday, built a "never sell Bitcoin" reputation for itself between 2020 and mid-2025.
It issued shares while its mNAV, a metric dividing enterprise value by BTC holdings, traded well above 1.0. That let the company raise cash, buy more Bitcoin, and grow shareholder value simultaneously.
With MSTR's mNAV now hovering near 1.0, Kendrick said Strategy is shifting the purpose of its Bitcoin holdings entirely, from an accumulation vehicle to collateral backing its perpetual preferred stock, STRC.
Why The Market Is Struggling To Believe MSTR's Pivot
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