Standard Chartered Predicts Bitcoin (BTC) Price Could Hit $500,00 as Global Institutions Accumulate MSTR Stock

According to the bank, Bitcoin price could hit $500,00 as global institutions accumulate Strategy's MSTR stock for indirect exposure to Bitcoin.

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Standard Chartered’s Bitcoin (BTC) price projections are still in the crosshairs as the bank predicts a potential surge to $500,000.

The Stellar (XLM) founders are launching a new blockchain project focused on Web3 gaming and social good initiatives.

Meanwhile, Strategy (formerly MicroStrategy) is known for its massive Bitcoin holdings, which have become a subject of interest for those seeking indirect exposure to crypto through equities.

Top Cryptocurrency Prices for Today, October 21

BTC price today: $105,178

ETH price today: $2,080.8

Token: Price

Bitcoin (BTC): $105,178

Ethereum (ETH): $2,080.8

BNB: $253.4

XRP: $0.8

USD Coin (USDC): $1.0

Crypto News: Standard Chartered’s Bitcoin (BTC) Price Projections

Bitcoin was trading at around $105,178, displaying a slight 2.27% increase in the past 24 hours.

The pioneer cryptocurrency's market capitalization has now reached an all-time high of $2.09 trillion.

To some extent, macro factors such as PBOC rate cuts and Moody's US credit downgrade provide tailwinds.

However, analysts maintain that institutional interest plays a significant role in Bitcoin's remarkable value surge.

This interest is channeled in part through Bitcoin ETFs (exchange-traded funds), which offer Traditional Finance (TradFi) players indirect exposure to BTC.

Similarly, institutions are gaining indirect exposure to Bitcoin through Strategy's MSTR stock.

A recent US Crypto News post highlighted that Strategy held 576,230 BTC as of May 19.

With such a substantial amount of Bitcoin on its balance sheet, it's no surprise that Strategy's MSTR stock price closely tracks Bitcoin's price movements.

Analysts attribute this correlation to a dynamic where Bitcoin forms the base layer, while MSTR operates as a vehicle with distinct risks, mechanics, and rewards.

In this context, BeInCrypto contacted Geoff Kendrick, the Head of Digital Assets Research at Standard Chartered.

According to Kendrick, Bitcoin is still on course to hit $500,000 before the end of Trump's second administration.

Kendrick ascribes this to deepening institutional adoption, particularly through indirect exposure via MicroStrategy's MSTR shares.

Standard Chartered Says Increasing Allocations to MSTR Is Bullish for Bitcoin

Newly released Q1 2025 13F filings from the US SEC (Securities and Exchange Commission) support the bank's bullish thesis.

Specifically, they show increasing allocations to MSTR by a range of global sovereign and quasi-sovereign entities.

“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 Bitcoin,” Kendrick said in an email to BeInCrypto.

While direct holdings of Bitcoin ETFs declined slightly overall, largely due to the State of Wisconsin Investment Board selling its entire 3,400 BTC-equivalent position in BlackRock's IBIT ETF, other entities quietly increased exposure via MSTR, which Kendrick described as a “Bitcoin proxy.”

“Government entities increased their holdings of Strategy Incorporated (MSTR), which typically trades like a Bitcoin proxy. Entities in Norway, Switzerland, and South Korea reported significant MSTR increases, and Saudi Arabia added a very small position for the first time,” Kendrick told BeInCrypto.

The Standard Chartered executive emphasized that while Bitcoin ETF flows were “unexciting,” the MSTR accumulation trend was the real story this quarter.

“The MSTR ownership detail was where the excitement was,” he added.

Geoff Kendrick further elaborated, detailing Standard Chartered's analysis of the filings. Based on their analysis:

Meanwhile, Abu Dhabi's quasi-sovereign wealth fund Mubadala added 300 BTC equivalent via ETF holdings, increasing its position to 5,000 BTC equivalent.

“SEC 13F data for Q1 supports our thesis that Bitcoin is attracting a wider range of buyers. While data on Bitcoin ETF holdings were disappointing, MSTR - a Bitcoin proxy - saw increased buying. Overall sovereign positions were unchanged due to the Wisconsin pension fund selling its ETF holdings,” Kendrick concluded.

BeInCrypto reported how the MicroStrategy effect is spreading worldwide, with TradFi companies building Bitcoin war chests.

The data reinforce Standard Chartered's outlook that institutional and sovereign flows - both direct and indirect - will be a key driver of Bitcoin's ascent to $500,