Standard Chartered Predicts Bitcoin (BTC) Could Surge to $500,000 by the End of 2028

In a recent client note, Standard Chartered's Head of Digital Assets Research, Geoff Kendrick, predicted that Bitcoin (BTC) could surge to $500,000 by the end of 2028.

Standard Chartered’s Head of Digital Assets Research, Geoff Kendrick, has predicted in a recent client note that Bitcoin (BTC) could surge to $500,000 by the end of 2028. The executive has attributed BTC’s potential extraordinary price rise to two major factors.

Bitcoin (BTC) could hit $500,000 by the end of 2028, according to Standard Chartered’s Head of Digital Assets Research.

In a recent client note, Geoff Kendrick stated that two major factors will propel BTC price to new heights.

Kendrick’s price forecasts follow a period of relative calm in BTC price action throughout 2025.

Standard Chartered’s Kendrick predicts a bullish Bitcoin trajectory over the next few years, with the world’s largest cryptocurrency potentially reaching $500,000 by 2028. In a recent client note, the Head of Digital Assets Research at the bank outlined two key factors that he believes will drive BTC to these new heights.

Kendrick’s analysis comes amid a period of relatively subdued price action for Bitcoin in 2025. After reaching multiple all-time highs (ATH) and crossing the $100,000 mark for the first time in 2024, BTC has seen more moderate price movements this year. Commencing 2025 at around $94,000, the cryptocurrency had climbed to $98,486 as of February 5.

However, Kendrick anticipates another phase of parabolic growth for Bitcoin starting in the latter half of 2025 and continuing through 2028. His projections include BTC reaching $200,000 by the end of 2025, $300,000 by the end of 2026, $400,000 by the end of 2027, and ultimately $500,000 by the end of 2028.

Kendrick’s ambitious price trajectory is based on two key factors: improving investor access and decreasing volatility. In January 2024, the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States greatly simplified investor access to BTC.

Additionally, as Bitcoin’s price and market capitalization grow, its volatility has been decreasing. A larger market cap makes it more difficult for any single trader or entity to manipulate BTC’s price. Kendrick expects this trend to continue as ETF markets mature and supporting financial infrastructure within the crypto market strengthens.

“The ETFs have attracted a net $39 billion of inflows so far, supporting the theory of pent-up demand being unleashed by increased access,” Kendrick added. “Donald Trump’s January 23 order that the administration evaluate a potential national digital assets stockpile is also important, as this could encourage other central banks to consider Bitcoin investments.”

If Trump’s administration proceeds with establishing a national digital assets reserve, Bitcoin’s volatility could decline even further. This could attract traditionally risk-averse investors who were previously hesitant due to BTC’s price swings.

Bitcoin Price Forecasts Remain Bullish Throughout 2025

Bitcoin has faced increased volatility in recent days, briefly dropping to $91,000 amid concerns over US trade tariffs on Mexico, Canada, and China. However, analysts are still confident in Bitcoin’s long-term bullish outlook.

For example, a $150,000 price target for BTC is too conservative, according to veteran crypto trader Alex Becker. Meanwhile, a CryptoQuant report predicts BTC could reach anywhere between $145,000 and $249,000 under a Trump administration.

On-chain data also suggests that Bitcoin ‘whales’ — investors controlling crypto wallets with large BTC holdings — are preparing for a bullish price trajectory, indicating confidence in BTC’s long-term growth under the Trump regime. At press time, BTC trades at $98,486, down 1.3% in the last 24 hours.