The Standard Chartered Bank reiterated its long-term outlook on Bitcoin this week, maintaining its ambitious prediction that the cryptocurrency will reach $500,000 by the end of President Donald Trump's second term.

The Standard Chartered report highlighted that France and Saudi Arabia opened positions in MSTR for the first time, while entities in Norway, Switzerland, and South Korea added to their existing positions. Several state pension systems in the US, including those in California, New York, North Carolina, and Kentucky, collectively added the equivalent of 1,000 BTC.

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