Standard Chartered's crypto bull sticks to $100,000 bitcoin call despite 'painful' week
Key takeaways
- The biggest crypto token has tumbled more than 15% since Monday, when Michael Saylor s Strategy, the largest corporate holder of bitcoin, disclosed that it had sold some of the holdings for the first time since 2022.
- "The timing of the sale was a shame," Kendrick wrote in a note to clients.
- The cryptocurrency has lost more than half its value since hitting a peak in October last year, even as President Donald Trump s administration has rolled out industry-friendly policies.
Standard Chartered's crypto bull sticks to $100,000 bitcoin call despite 'painful' week Reuters Thu, June 4, 2026 at 8:17 PM GMT+7 2 min read BTC-USD 37ZL.L MSTR June 4 (Reuters) - Geoffrey Kendrick, one of the most vocal crypto advocates, is sticking with his call for bitcoin to hit $100,000 by the end of the year despite a "painful" week, with the global head of digital assets research at Standard Chartered pointing to resilient long-term demand.
The biggest crypto token has tumbled more than 15% since Monday, when Michael Saylor s Strategy, the largest corporate holder of bitcoin, disclosed that it had sold some of the holdings for the first time since 2022.
"The timing of the sale was a shame," Kendrick wrote in a note to clients. "This week has been painful in crypto. There is really no other way of putting it."