Standard Chartered: Bitcoin is Still on the Way to 500,000 Dollars!!

Geoffrey Kendrick, the Director of Digital Asset Research at Standard Chartered, stated that all factors that will drive the market up are now in play following Bitcoin reaching a new all-time high.

"As Bitcoin is breaking records as we anticipated, it is time to make an assessment. What factors are at play? Short answer: All of them," Kendrick said, noting that the dynamics behind the rise are functioning as expected.

Target: 500,000 Dollars

Kendrick reiterated his bold price target of 500,000 dollars for Bitcoin earlier this week. He predicts that this level could be seen during President Donald Trump's current term. The basis of his prediction includes the following elements:

Macroeconomic trendsInstitutional capital flowsCrypto-friendly political environmentIncreasing Corporate Interest

Kendrick emphasized that institutional and state-backed investments in Bitcoin through indirect instruments like MicroStrategy (MSTR) have increased, as noted through the 13F filings made to the U.S. Securities and Exchange Commission (SEC). He pointed out that this accumulation trend is expected to accelerate in the second quarter of 2025.

The Environment is "Almost Perfect" for Bitcoin

With the combination of spot ETF approvals, the increasing weight of BTC in traditional portfolios, and the White House's clear and positive regulatory stance, Kendrick says that an "almost perfect" environment has been created for Bitcoin to break records.