Standard Chartered Forecasts Bitcoin Price to Reach $500,000 by 2028
Geoffrey Kendrick, Standard Chartered’s global head of digital assets research, predicts Bitcoin's price could reach $500,000 by the end of 2028. Currently priced at approximately $98,700, this forecast is based on two factors: improved investor access and reduced volatility.
Key Factors Driving Bitcoin's Potential Growth
- Kendrick emphasizes that increased accessibility for investors will drive Bitcoin’s rise, particularly influenced by current policies.
- The introduction of US spot Bitcoin ETFs has generated $39 billion in net inflows since early 2024, significantly enhancing investor access.
- Institutional investments are expected to increase as barriers to Bitcoin investment decrease.
- Lower volatility is anticipated as more financial products like Bitcoin ETFs emerge, making Bitcoin a more stable asset.
Impact of Regulatory Changes
- Regulatory shifts under the Trump administration, such as the repeal of SAB 121, facilitate institutional entry into the Bitcoin market.
- Trump's recent Executive Order aims to assess a national digital asset stockpile, legitimizing Bitcoin as an investment for central banks.
Kendrick forecasts Bitcoin reaching $200,000 by the end of 2025, $300,000 in 2026, $400,000 in 2027, and $500,000 by 2028, with prices stabilizing through 2029.