标准特许报告通过MicroStrategy Holdings增长了主权比特币的曝光率，到2029年，到2029年的价格上涨，截至2025年5月，其目标价为500,000美元。

Standard Charter的杰夫·肯德里克（Geoff Kendrick）表示，最近的SEC 13F文件支持到2028年底可能将比特币上升至500,000美元。而直接ETF持有在Q1中浸入

Standard Chartered is reporting growing sovereign interest in Bitcoin through its exposure to MicroStrategy, backing a $500,000 price target by 2029.

Standard Chartered报告说，比特币对比特币的主权利息日益增加，其接触MicroStrategy，到2029年将支持500,000美元的目标目标。

Standard Chartered’s report, based on Q1 2025 SEC 13F filings, showcases a significant increase in sovereign wealth funds and government entities holding shares in MicroStrategy (NASDAQ:MSTR), a company known for its massive Bitcoin holdings.

Standard Charter的报告根据第1季度2025 SEC 13F文件，展示了主权财富基金和持有MicroStrategy股份（NASDAQ：MSTR）的政府实体，该公司以其大规模的比特币持有股而闻名。

As the SEC filings show, several sovereign wealth funds and government entities have been adding to their positions in MicroStrategy, effectively accumulating a large amount of Bitcoin exposure.

正如SEC文件所示，几个主权财富基金和政府实体一直在增加其在微观环境中的立场，从而有效地积累了大量的比特币风险。

Among the notable additions are:

著名的增加是：

• Norway’s Government Pension Fund, which is the largest in the world, increased its position in MicroStrategy throughout the quarter, ultimately adding the equivalent of 700 BTC.

•挪威的政府养老基金是世界上最大的养老金，在整个季度中提高了其在MicroStrategy中的地位，最终增加了相当于700 BTC。

• The Swiss National Bank also boosted its position in MicroStrategy, incrementally adding the equivalent of 700 BTC to its portfolio.

•瑞士国家银行还提高了其在MicroStrategy中的地位，并在其投资组合中逐渐增加了700 BTC。

• South Korea’s pension funds, known for their significant investments, collectively increased their exposure to MicroStrategy by 700 BTC.

•韩国以大量投资而闻名的韩国养老基金将其对微观流通的曝光率增加了700 BTC。

Moreover, U.S. state retirement funds, including those in California, New York, North Carolina, and Kentucky, displayed interest in MicroStrategy, incrementally adding a collective 1,000 BTC equivalent to their holdings.

此外，美国国家退休基金，包括加利福尼亚，纽约，北卡罗来纳州和肯塔基州的退休基金，对微观造成的兴趣表现出兴趣，并逐渐增加了一个集体的1,000 BTC，相当于其股份。

First-time buyers like Saudi Arabia and France entered the space with smaller positions, signaling expanding global interest.

沙特阿拉伯和法国等首次购房者以较小的位置进入了该空间，这表明扩大了全球兴趣。

This indirect exposure aligns with a broader trend of institutional adoption. Standard Chartered’s head of digital assets, Geoffrey Kendrick, highlighted that several institutions, including Cathie Wood’s ARK Invest and Charles Schwab’s (NYSE:C) mutual funds, showed keen interest in Bitcoin.

这种间接的暴露与机构采用的更广泛趋势保持一致。 Standard Charter的数字资产负责人Geoffrey Kendrick强调，包括Cathie Wood的ARK Invest和Charles Schwab的（NYSE：C）共同基金在内的几个机构表现出对比特币的兴趣。

Kendrick further emphasized that this trend supports Standard Chartered’s $500,000 Bitcoin BTC price target by 2029, coinciding with the end of President Donald Trump’s term.

肯德里克（Kendrick）进一步强调，这一趋势支持宪章到2029年的$ 500,000比特币BTC价格目标，这与唐纳德·特朗普总统的任期结束时相吻合。

However, the report also noted a decline in direct Bitcoin ETF ownership, with Wisconsin unloading its 3,400 BTC-equivalent position in BlackRock’s (NYSE:BLK) IBIT ETF, indicating a strategic shift toward indirect exposure via MSTR.

但是，该报告还指出，直接比特币ETF所有权的下降，威斯康星州在BlackRock（NYSE：BLK）IBIT ETF中卸载了其3,400 BTC当量的位置，这表明通过MSTR朝着间接暴露的战略转变。

This shift could be attributed to the varying risk appetites of different government entities, with some preferring the concentrated exposure of a few large positions, while others might favor a more diversified approach with smaller ETF holdings.

这种转变可以归因于不同政府实体的不同风险胃口，有些人更喜欢集中接触一些大型职位，而另一些人则更喜欢使用较小的ETF持有量进行更多元化的方法。

The growing sovereign interest in Bitcoin via MicroStrategy underscores its increasing acceptance as a store of value among traditional financial entities.

通过MicroStrategy对比特币的主权兴趣不断增强，这强调了其作为传统金融实体中价值存储的越来越多。

This aligns with reports from River and DeItaone on social media, highlighting the magnitude of MicroStrategy’s strategy in diverting funds from traditional assets like bonds.

这与社交媒体上的River和Deitaone的报道保持一致，强调了Microstrategy在将资金从债券等传统资产中转移出来的战略的规模。

With its strategy of using debt to acquire Bitcoin—adding $42.6 billion to corporate treasuries since 2021, as per River’s May 2025 report—MicroStrategy has become a proxy for Bitcoin exposure, especially for entities like the Saudi Arabia sovereign fund, which prefer not to invest directly in cryptocurrencies but seek exposure through equities.

凭借其使用债务收购比特币的策略，自2021年以来，根据River的2025年5月的报告，将其添加到公司国库中的426亿美元 - Microstrategy已成为比特币暴露的代理，尤其是对于像沙特阿拉伯阿拉伯人这样的实体，尤其是针对诸如Saudi Arabia Arabia Severeign Fund，不直接在CryptoCurencies中进行投资，而是通过Equiesities进行Equiesities。

This trend could drive Bitcoin’s price higher, as increased demand from sovereign funds may reduce available supply, potentially pushing the cryptocurrency to the $150,000 level by the end of 2025 if institutional inflows continue at the current pace.

这种趋势可能会推动比特币的价格提高，因为主权基金的需求增加可能会减少可用的供应，如果机构流入以当前的速度继续下去，则可能会在2025年底之前将加密货币推向150,000美元。