Strategy's Bitcoin Sale Disturbs Market, Standard Chartered Still Holds Year-End $100,000 Target

CoinFeed July 10 news, according to Decrypt, Standard Chartered stated in its latest report that Strategy's sale of some Bitcoin to pay dividends on its 12% annual interest preferred stock STRC is 'noise more than signal', and reiterated its year-end $100,000 target price for Bitcoin. The report pointed out that Strategy sold 3,588 BTC between June 29 and July 5, cashing out approximately $216 million, used for dividends and replenishing cash reserves, currently still holding about 843,775 BTC. Standard Chartered said that because STRC is 'over-collateralized' with Bitcoin, and the company has established about $2.55 billion in dividend reserves, if communication is in place, large-scale continuous selling of BTC may not be necessary in the future.