Geoffrey Kendrick - Head of Digital Assets at bank #StandardChartered - recently surprised investors by publicly apologizing... for underestimating Bitcoin's potential. Previously, he had predicted BTC would reach $120,000 in the second quarter of 2025.
"I apologize for the $120,000 target being... too low," Kendrick candidly shared in an email sent to clients on Thursday.
From cautious forecasts to confidence in massive capital flows
In just the past three weeks, the market has recorded $5.3 billion in capital flows into spot Bitcoin ETFs in the U.S., reflecting Bitcoin's increasing allure to institutional investors. Kendrick noted that this is the factor that has completely changed "the story of Bitcoin."
If before $BTC was classified alongside risky assets like U.S. tech stocks, it is now being viewed as a global strategic asset amid large capital flows shifting out of the U.S.
Some examples that Kendrick highlighted:
The Abu Dhabi sovereign wealth fund currently holds shares in BlackRock's Bitcoin IBIT fund.
The Swiss National Bank is reportedly holding shares of MicroStrategy - a company often seen as Bitcoin's 'indirect leverage.'
The 'whales' continue to accumulate BTC on a large scale.
All the signs above reinforce the view that: Bitcoin is no longer merely a speculative asset, but is emerging as a macro financial tool with global influence.
Is the $120,000 level just a stepping stone?
Kendrick believes the $120,000 mark is likely to be broken this summer, much sooner than previously predicted. The next target? $200,000 by the end of 2025, according to his latest updated outlook.
Connecting with crypto and Binance users:
This forecast adjustment reflects a very notable trend among Binance users in particular and the crypto community in general: institutional money is returning strongly, and Bitcoin is being repositioned in the global asset portfolio. With 24/7 trading infrastructure and high liquidity on Binance, users can take advantage of this market opportunity without being limited by traditional working hours.
Risk warning: The cryptocurrency market is always prone to significant volatility and is not suitable for everyone. Users need to carefully consider before investing and should only use capital they can afford to lose.