Bitcoin Still on Track to Hit $500,000

Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, believes all predicted market catalysts are now in play as Bitcoin hits a fresh all-time high.

Standard Chartered: Bitcoin Still on Track for $500,000 As Predicted Market Catalysts Now Come "Into Play'

Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, remains optimistic about Bitcoin's bullish trajectory, noting that several predicted market catalysts are now coming "into play" as the cryptocurrency hits a fresh all-time high.

Taking note of the factors behind BTC's rally, Kendrick stated that they are aligning as expected.

"As Bitcoin prints what is predicted to be a new all-time high, it seems an opportune moment to take stock and see which of our predicted drivers are playing out. Short answer - everything is working," Kendrick said.

Earlier this week, the Standard Chartered strategist reaffirmed his bold $500,000 Bitcoin price target, which he expects could be reached during President Donald Trump’s current term. His thesis hinges on a combination of macro trends, institutional flows, and political tailwinds.

Kendrick highlighted recent 13F filings with the U.S. Securities and Exchange Commission (SEC), revealing a surge in institutional and sovereign investment into Bitcoin - primarily through proxy assets like MicroStrategy (MSTR). He observed that this accumulation trend seems to have accelerated in Q2 2025, further reinforcing confidence in long-term adoption.

"We highlight the 13F filings made in the second quarter of 2025 with the U.S. Securities and Exchange Commission (SEC) by major institutions and noted the strong preference for investing in Bitcoin. Notably, this accumulation appears to be accelerating, setting the stage for even greater commitments in the coming quarters," he added.

The convergence of spot ETF approvals, growing balance sheet exposure by traditional asset managers, and clearer regulatory direction under a crypto-friendly White House has created what Kendrick views as a near-perfect environment for Bitcoin to reach new heights.

With Bitcoin already setting new records in 2025 and capital inflows broadening, Standard Chartered’s projection of $500,000 per BTC is gaining fresh attention from both Wall Street and the crypto industry.

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