Bitcoin To $500,000: Standard Chartered Doubles Down On 2028 Target

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Bitcoin To $500,000: Standard Chartered Doubles Down On 2028 Target - NewsBTC

Quick Summary:

Sovereign Wealth Funds Enter The Bitcoin Fray According to a new report from Standard Chartered cited by The Block, Kendrick sees growing signs that government-backed investment vehicles are ramping up their interest in Bitcoin.

Related Reading: Bitcoin Presents A Generational Opportunity’ As Global Turmoil Intensifies, Says Bitwise Executive "While this is small for now, we would expect the size to increase over time and, indeed, for other sovereigns to also start buying,” Kendrick wrote in the Tuesday report.

Kendrick, who envisions BTC hitting $500,000 by 2028, bases his conviction on evidence of increasing institutional involvement — specifically pointing to sovereign wealth funds, state pension funds, and other large-scale investors.