Shift

Value

JPMorgan

Bitcoin

Standard

<p><a href="https://en.coin-turk.com/bitcoin-analysts-predict-bull-market-targets/" rel="noopener noreferrer nofollow">Bitcoin</a> fell sharply from $80,000 to $60,000 after Strategy Inc. disclosed on June 1 that it had sold 32 BTC during the previous week. This move triggered panic selling across cryptocurrency markets and led to significant price swings.</p>
<h2 id="standard-chartered-defends-strategy-after-bitcoin-drop">Standard Chartered defends strategy after Bitcoin drop</h2>
<p>Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, addressed the market reaction, attributing the turmoil to a “communication challenge” by Strategy Inc., rather than any underlying weakness in Bitcoin itself.</p>
<blockquote>
 <p>Geoffrey Kendrick described Bitcoin at $64,000 as “a screaming buy,” highlighting that concerns about Strategy’s action stem from transparency issues rather than market fundamentals.</p>
</blockquote>
<p>Strategy Inc., an enterprise software and business intelligence company, maintains custody of 843,775 BTC and stands as the largest institutional holder of Bitcoin worldwide. The firm has historically committed to a “never sell bitcoin” approach, using debt and equity offerings to purchase additional coins and expand its holdings.</p>
<p>This strategy enabled Strategy Inc. to take advantage of a high market Net Asset Value (mNAV) ratio, allowing it to issue new shares, use the capital to buy more Bitcoin, and increase shareholder value beyond the effects of equity dilution.</p>
<p>Mini dictionary: mNAV (market Net Asset Value) ratio, a metric comparing a company’s stock market value to the market value of its underlying assets, used to assess potential dilution or premium from share issuance.</p>
<h2 id="shift-in-bitcoin-management-model">Shift in Bitcoin management model</h2>
<p>With mNAV now approaching 1.0, Strategy Inc. has changed its approach. The company is restructuring its Bitcoin holdings to support STRC, a perpetual preferred stock that pays a 12% annual dividend and carries around $10 billion in notional value. STRC’s price recently dropped from $100 to an intraday low of $71.25 on June 26, though it currently trades near $90.</p>
<p>To shore up its dividend reserve, Strategy has started a program to periodically sell part of its Bitcoin holdings. This plan aims to generate up to $1.25 billion for the dividend fund, which currently holds $2.55 billion in USD—enough to cover about 17.4 months of STRC dividend payments.</p>
<blockquote>
 <p>Strategy Inc.’s management compares its forward guidance to central bank communication, aiming for greater clarity on future Bitcoin sales to reduce market uncertainty.</p>
</blockquote>
<p>Strategy’s latest transaction involved the sale of 3,588 BTC, valued at $216 million, marking its largest one-time Bitcoin sale so far.</p>
<table>
 <thead>
  <tr>
   <th>Metric</th>
   <th>Value</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>Bitcoin held by Strategy</td>
   <td>843,775 BTC</td>
  </tr>
  <tr>
   <td>Biggest recent sale</td>
   <td>3,588 BTC ($216 million)</td>
  </tr>
  <tr>
   <td>STRC notional value</td>
   <td>$10 billion</td>
  </tr>
  <tr>
   <td>Dividend reserve fund</td>
   <td>$2.55 billion</td>
  </tr>
 </tbody>
</table>
<h2 id="diverging-views-from-industry-analysts">Diverging views from industry analysts</h2>
<p>Not all analysts support the revised model. JPMorgan researchers warned that a formal Bitcoin sales framework introduces “avoidable two-way risk,” as Strategy Inc. could become both a buyer and a seller in the market.</p>
<p>Meanwhile, Zach Pandl, head of research at Grayscale, argued these sales could actually strengthen Strategy’s financial base and help stabilize Bitcoin’s market value over the longer term.</p>
<p>At the close of trading, Bitcoin recovered to nearly $63,971, posting a 1.5% gain over the previous 24 hours, while shares of Strategy hovered around $93.99.</p>
<p>The post <a href="https://en.coin-turk.com/standard-chartered-maintains-100000-bitcoin-target-as-strategy-sells-3588-btc/" rel="noopener noreferrer nofollow">Standard Chartered maintains $100,000 Bitcoin target as Strategy sells 3,588 BTC</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Standard Chartered maintains $100,000 Bitcoin target as Strategy sells 3,588 BTC

Table of Contents

COINTURK NEWS

Other articles published on Jul 11, 2026

Join our free newsletter for daily crypto updates!