**Standard Chartered Predicts Bitcoin Could Reach $500K by 2028**
In a recent report, Standard Chartered Bank has reaffirmed its bullish stance on Bitcoin, projecting that the cryptocurrency could hit $500,000 before the end of Donald Trump’s presidency in 2029. The bank highlights a growing trend of indirect exposure to Bitcoin through investments in MicroStrategy (MSTR), particularly among government entities.
Geoffrey Kendrick, the global head of digital assets research at Standard Chartered, noted that recent 13F filings from the U.S. Securities and Exchange Commission (SEC) support this optimistic outlook. He stated, “As more investors gain access to the asset and as volatility falls, we believe portfolios will migrate towards their optimal level from an underweight starting position in BTC.”
The report indicates a slowdown in direct Bitcoin ETF purchases, with some state funds, such as Wisconsin’s, completely exiting their positions. However, government-linked investments in MSTR shares have been on the rise. For instance, Abu Dhabi’s Mubadala increased its exposure to the equivalent of 5,000 BTC. Kendrick pointed out that many government entities are opting for MSTR holdings as a way to gain Bitcoin exposure in regions where direct BTC ownership is restricted.
Notably, France and Saudi Arabia made their first investments in MSTR during the first quarter, while Norway’s Government Pension Fund, the Swiss National Bank, and South Korea’s public funds each added exposure equivalent to 700 BTC. Additionally, U.S. retirement funds in California and New York collectively acquired 1,000 BTC equivalent through MSTR.
Kendrick described this trend as “very encouraging,” emphasizing that the quarterly 13F data serves as a strong indicator of Bitcoin’s potential to attract new institutional buyers as the market matures. “When institutions buy Bitcoin, prices tend to rise,” he added.
This isn’t Kendrick’s first optimistic forecast. He previously revised his price target for Bitcoin, acknowledging that his earlier estimate of $120,000 for Q2 2025 was “too low” due to significant inflows into U.S. spot Bitcoin ETFs, which totaled $5.3 billion in just three weeks. He has since adjusted his year-end target for 2025 to $200,000.
As the landscape for Bitcoin investment continues to evolve, Standard Chartered’s insights suggest a promising future for the cryptocurrency, particularly as institutional interest grows.
**FAQ**
**What is Standard Chartered’s Bitcoin price prediction?**
Standard Chartered predicts that Bitcoin could reach $500,000 by the end of 2028, driven by increasing institutional investment and indirect exposure through MicroStrategy.