Standard Chartered Forecasts Bitcoin to Hit $500,000 by 2028
In the latest developments, the Standard Chartered UK multinational corporations has released a bold prediction that Bitcoin (BTC) could hit $500,000 before the end of its presidency of Donald Trump. The bank expects prices to rise due to a more favorable regulatory environment and increased access to Bitcoin.
It is worth noting that it predicts that Bitcoin will reach $200,000 in 2025, then steadily rise to $300,000 in 2026, $400,000 in 2027, and finally $500,000 in 2028, before stabilizing.
Bitcoin is currently at $98,600, up 43% from $68,800 before Trump’s November election victory. A standard franchise forecast of $500,000 could mean a 407% increase over current positions. At this price, Bitcoin’s market cap could reach $10.5 trillion, surpassing Apple and Microsoft, accounting for about half of Gold’s $19.4 trillion market cap.
“So far, ETFs have attracted $39 billion in net inflows, supporting the suppressed demand theory of increasing access.” Geoff Kendrick, head of digital asset research at global digital asset research, a press release read.
Standard Chartered Regions see significant growth potential for Bitcoin, mainly due to the increase in investor visits following the introduction of Bitcoin Spot Exchange Traded Funds (ETFs) in the United States in January 2024.
Additionally, Kendrick noted that the regulatory environment in the United States is becoming increasingly favorable, emphasizing the abolition of Employee Accounting Bulletin (SAB) No. 121, which requires companies to list digital assets as liabilities, which is for the industry “Important Steps”.
