Standard Chartered Sets $500,000 Bitcoin Target for 2028 Amid Trump's Crypto Reserve Plan

Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, remains optimistic about Bitcoin's future despite recent market fluctuations. In a CNBC interview, Kendrick forecasted that Bitcoin could reach $200,000 by the end of the current year and potentially climb to $500,000 before the conclusion of President Donald Trump's second term.

Standard Chartered's bullish outlook on Bitcoin is reinforced by their prediction of the cryptocurrency reaching $500,000 before Trump leaves office, a forecast that aligns with their earlier target. This projection comes in the context of a recent GDP decline and the dismissal of the SEC lawsuit against Coinbase, suggesting a bullish stance on Bitcoin amidst economic uncertainty.

The bank's renewed focus on the $500,000 Bitcoin target is attributed to Trump's announcement of a Bitcoin & Crypto Strategic Reserve, which has put the target back into the spotlight. Standard Chartered, with assets under management worth $370 billion, has set this target for 2028.

Other notable figures have also made Bitcoin price predictions for 2025, with VanEck forecasting $180,000, Tim Draper and Tom Lee both predicting $250,000, Robert Kiyosaki estimating $350,000, and Chamath Palihapitiya projecting $500,000.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.