Bitcoin Price Target Raised to $200,000 by Standard Chartered
Bitcoin is nearing a record high, driven by substantial investment flows, according to Standard Chartered.
- U.S. spot bitcoin ETFs have attracted $5.3 billion in inflows over the past three weeks.
- Net real flow, after adjusting for hedge fund basis trades, exceeds $4 billion.
- MicroStrategy has increased its holdings to 555,450 BTC, representing 2.6% of total future supply.
- The company's plan to raise $84 billion could boost its holdings to over 6% of total supply.
- Upcoming 13F filings may show further institutional adoption.
- New Hampshire passed a Strategic Bitcoin Reserve bill, marking policy progress.
- Standard Chartered's price targets include $120,000 for Q2 and $200,000 for year-end.
- Bitcoin was trading around $101,000 at publication time.