比特幣（BTC）價格預測2025年的標準

如果對美聯儲獨立的擔憂持續存在，比特幣的價格可能會大幅上漲

Standard Chartered's global head of digital assets research, Geoffrey Kendrick, has pointed to interesting implications for Bitcoin's price in 2025 should concerns over the Federal Reserve's independence persist.

Standard Chartered的全球數字資產研究負責人Geoffrey Kendrick指出，2025年對比特幣價格的有趣含義，如果擔心美聯儲的獨立性。

In a note shared with The Block, Kendrick highlighted that political pressure on central banking could push Bitcoin higher - reinforcing its role as a hedge against government-sector risk.

肯德里克（Kendrick）在與該街區分享的一張票據中強調，中央銀行的政治壓力可能會將比特幣提高 - 加強了其作為抵抗政府部門風險的對沖的作用。

"The current threat to the Fed's independence via [Fed Chairman Jerome] Powell's potential replacement falls squarely into that category," Kendrick said.

肯德里克說：“目前通過[美聯儲主席杰羅姆]鮑威爾的潛在替代者對美聯儲獨立的威脅完全屬於這一類別。”

He views Bitcoin as a multi-faceted portfolio asset, particularly valuable in times of systemic stress. While it can hedge against private-sector risks like banking collapses, it also performs well when government institutions come under scrutiny, which is currently the case.

他認為比特幣是一種多方面的投資組合資產，在系統性壓力時尤其有價值。儘管它可以對沖私營部門的風險，例如銀行業務崩潰，但當政府機構受到審查時，情況也表現良好，目前是這種情況。

Kendrick noted the correlation between BTC and the 10-year U.S. Treasury term premium, which recently reached a 12-year high, reflecting elevated investor anxiety around long-term interest rates. However, despite this spike, Bitcoin has yet to respond fully.

肯德里克（Kendrick）指出，BTC與美國財政期限10年期限的相關性，該期限最近達到了12年的高度，反映了投資者在長期利率上的焦慮升高。但是，儘管有這種激增，但比特幣尚未做出充分的反應。

"Bitcoin has typically moved in tandem with the 10Y term premium," explained Kendrick. "But lately it has lagged, likely because it's been trading more like a high-growth tech stock."

肯德里克（Kendrick）解釋說：“比特幣通常與10年級的保費同時移動。” “但是最近它滯後了，可能是因為它的交易更像是高增長的科技股。”

Reaffirming his bullish stance, Kendrick maintains a Bitcoin price target of $200,000 by the end of 2025 and $500,000 by 2028. He noted that Bitcoin's narrative is not static, evolving from a speculative asset into a strategic hedge against both monetary instability and institutional breakdowns.

肯德里克（Kendrick）重申了他的看漲立場，到2025年底，比特幣的目標價為200,000美元，到2028年的500,000美元。他指出，比特幣的敘述不是靜態的，從投機性資產從投機性的資產演變為貨幣不穩定和機構崩潰的戰略對沖。

"Bitcoin serves different roles over time - inflation hedge, digital gold, or hedge against institutional risk," he concluded.

他總結說：“隨著時間的流逝，比特幣發揮了不同的作用 - 通貨膨脹對沖，數字黃金或對沖機構風險。”