$BTC Standard Chartered reiterated its bullish outlook on bitcoin (BTC-USD, Finance), maintaining a target price of $200,000 by the end of 2025 and projecting an increase to $500,000 by 2028, according to Geoffrey Kendrick, head of digital asset research.

Kendrick stated that bitcoin serves as a hedge against systemic risks in both the private and governmental sectors, citing the decentralized ledger of the cryptocurrency as a key factor in its resilience. He pointed to examples such as the collapse of Silicon Valley Bank in 2023 and the current concerns about the stability of the U.S. Treasury bond market as instances of bitcoin's role during periods of financial stress.