Table content
**Standard Chartered Bank Anticipates Bitcoin’s Value to Soar to $500,000 Amidst Financial Powerhouses’ Investments**
Bitcoin’s initial period of the year was unstable, with price volatility sparking worry. Regardless of the short-run market’s sentiment, prominent institutional investors are showing growing interest in Bitcoin. Standard Chartered Bank indicates this purchasing impetus might propel Bitcoin to unparalleled levels.
Standard Chartered Bank projects Bitcoin achieving $500,000 by the conclusion of President Donald Trump’s tenure.
Geoff Kendrick, Standard Chartered’s Worldwide Head of Digital Assets Research, anticipates sovereign wealth and retirement funds will participate in the upward trend, subsequent to the previous year’s hedge fund increase.
The introduction of Exchange Traded Funds (ETFs) in 2024 substantially enhanced Bitcoin’s availability, delivering a constant impetus leading up to the election. Michael Saylor’s considerable Bitcoin acquisitions also assisted it in attaining an all-time peak of approximately $108,000 in December.
Nevertheless, the token has subsequently encountered difficulties in preserving stability beyond $100,000.
Kendrick is of the opinion that this will transform as fresh investors enter the market.
**The Initial Year of ETFs**
Recent quarter-end 13F submissions (necessary for businesses overseeing over $100 million) unveil key participants in Bitcoin ETFs’ inaugural year.
Hedge funds remain the primary Bitcoin purchasers, succeeded by investment advisors. Banks commenced acquiring Bitcoin in Q3, progressively augmenting activity, potentially intensified by the revocation of SAB 121.
**Prospective Forecast**
Kendrick penned, “Additional investors are awaiting entry.”
As these sizable institutions integrate Bitcoin into their financial statements, the asset’s overall instability ought to diminish.
Kendrick anticipates that this action will trigger a chain reaction among major investment management firms, enabling them to allocate a greater proportion of their assets to Bitcoin with greater assurance, hence boosting acquisitions. Solana Co-Creator Anatoly Yakovenko Says Layer 2 Solutions are Unnecessary
The new purchasers Kendrick cites encompass the world’s most substantial buyers: retirement funds and government wealth funds.
Nations such as Abu Dhabi have already acquired the token. Kendrick asserts that while solely the Wisconsin Investment Board and the Michigan Treasury have invested in Bitcoin, they are undeniably among the most well-funded organizations.
Kendrick notes, “Looking forward, we anticipate more ultra-long-term, long-only capital,” and that Abu Dhabi will stimulate “increased engagement from sovereign states.”
*Andrew Flanagan serves as a markets correspondent for DL News. Possess any confidential details? Kindly forward an email to* *[email protected]*.
