Geoffrey Kendrick, head of digital assets at Standard Chartered, predicts that Bitcoin could reach a staggering $500,000 within the next three years.
The anticipated price surge is attributed mainly to the advancements made during the Trump administration and the increased accessibility for investors. Currently trading at around $98,000, Bitcoin initially breached the $100,000 mark following Trump’s election victory.
During his presidency, Trump established a working group focused on digital assets that aims to explore the development of a more relaxed federal regulatory framework for cryptocurrencies and assess the creation of a national digital asset stockpile. Additionally, the removal of accounting restrictions for companies holding cryptocurrencies has further fueled optimism in the market.
On the institutional side, the launch of Bitcoin exchange-traded funds (ETFs) has created significant demand, resulting in inflows of $39 billion to date.
Kendrick’s projection for Bitcoin indicates a rise to $200,000 by the end of 2025, followed by $300,000 in 2026, $400,000 in 2027, and ultimately reaching half a million dollars by 2028, after which he expects it to stabilize through 2029.
He believes that reduced volatility will increase interest in the market, enhancing Bitcoin’s appeal as a component of a diversified portfolio alongside gold, which currently boasts a market cap of $19.3 trillion. Kendrick asserts that this dynamic “should lead to long-term price appreciation as portfolios move toward their optimal state.”