Standard Chartered: $BTC

Bitcoin Could Reach $500K by 2029

Standard Chartered Bank predicts that Bitcoin could reach $500,000 before the start of 2029. According to Geoff Kendrick, Head of Digital Assets Research at the bank, rising indirect exposure to Bitcoin through investments in MicroStrategy (MSTR) by government entities is a strong indicator of growing institutional demand.

In the first quarter of 2025, state retirement funds from California, New York, North Carolina, and Kentucky increased their holdings in MSTR—equivalent to approximately 1,000 Bitcoin. Other notable government investors included South Korea’s National Pension Service, the Swiss National Bank, the Saudi Central Bank, and pension funds from Sweden and France.

MicroStrategy currently holds around 576,000 Bitcoin, making it a prominent proxy for institutional investors looking to gain Bitcoin exposure, especially in regions where direct Bitcoin ownership is restricted by local regulations. Kendrick noted that in many cases, these investments are made where direct BTC holdings are not legally permitted.

Standard Chartered’s $500K price prediction is based on the assumption that a second Trump administration will roll back regulatory hurdles (like SAB 121) and introduce Bitcoin-friendly policies such as a strategic Bitcoin reserve—both of which could fuel greater adoption and investor access.

Conclusion:

The increased interest from sovereign and institutional investors in MicroStrategy reflects a broader structural demand for Bitcoin, reinforcing Standard Chartered’s belief in its long-term price potential.