American bank reiterates: 'Bitcoin will reach $500,000'
One of the main banks in the U.S., Standard Chartered Bank, has reiterated that the price of Bitcoin could reach $500,000 by the end of Donald Trump's next term. According to the bank, by the end of 2028, the largest cryptocurrency in the world is expected to triple in value.
In a report released this Tuesday (20), Geoffrey Kendrick, the bank's global head of digital asset research, highlighted that, although direct investment in Bitcoin ETFs has disappointed, the growing number of shares in Strategy (MSTR) signals a more strategic and institutional move.
Thus, according to the report, governments and large public funds are indirectly exposing themselves to Bitcoin.
According to him, “the latest data from the SEC supports our central thesis that Bitcoin will reach $500,000 before the end of Trump's term.”
Strategy has over 200,000 ETC on its balance sheet and has become a popular alternative for those wishing to invest in Bitcoin without buying the asset directly.
Kendrick states that the increase in positions of institutional and sovereign investors in MSTR reveals a new form of quiet entry into the crypto market.
This indirect approach allows more conservative institutions to avoid regulatory challenges and custody issues, opting for shares linked to Bitcoin instead of dealing with the assets directly. In this way, it reduces barriers and facilitates the entry movement into the crypto sector.
Source: Criptofacil