Bitcoin continues to be a hot topic in the financial world, especially after Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered, revealed his ambitious prediction. Kendrick predicted that the price of Bitcoin will reach $500,000 by 2028, driven by two main factors: increased investor access and reduced market volatility.
Wider Investor Access
According to Kendrick, investor access to Bitcoin has increased rapidly since the launch of spot Bitcoin ETFs in the United States in January 2024. These investment products allow more institutions and individuals to invest in Bitcoin in a safer and more structured way. So far, spot Bitcoin ETFs have attracted net inflows of $39 billion.
Additionally, Kendrick highlighted that the potential repeal of accounting rule SAB 121 under the Trump administration could further increase institutional access to digital assets. If this regulation is removed, companies holding Bitcoin will no longer face barriers in their financial reporting, which could ultimately encourage more institutions to allocate funds to Bitcoin.
Bitcoin Volatility Declining
As the Bitcoin ETF market matures, Kendrick expects volatility to continue to decline. Other factors contributing to price stability include the expansion of the Bitcoin options market and growing institutional participation.
Kendrick also compared Bitcoin's development to gold. He noted that the price of gold jumped 4.3 times after the Exchange-Traded Product (ETP) was introduced in 2004. If the same trend occurs with Bitcoin, a significant price increase could be seen in the next two years, rather than the seven years that occurred with gold.
Bitcoin Price Projection to 2029
Based on his analysis, Kendrick projects that Bitcoin will reach $200,000 by the end of 2025, then rise to $300,000 by the end of 2026, $400,000 by the end of 2027, and finally break through $500,000 in 2028. He also believes that the price will persist until the end of 2029.
In addition to support for Bitcoin ETFs and more friendly regulation, Kendrick believes that Trump’s executive order to evaluate national digital asset reserves could prompt central banks to consider investing in Bitcoin. If this happens, the surge in institutional demand could further accelerate Bitcoin’s price appreciation over the next few years.
Standard Chartered’s prediction of Bitcoin’s price rising to $500,000 by 2028 is based on strong fundamentals, including increased investor access, more supportive regulations, and improving market stability. If this projection proves correct, Bitcoin will further solidify its position as a leading digital asset in global investment portfolios.