Standard Chartered Bank: Sovereign wealth funds accelerate BTC allocation, maintaining the prediction of Bitcoin reaching $500,000 by 2028

2025-02-18 21:30:52

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ChainCatcher news, according to The Block, Standard Chartered's Global Head of Digital Assets Research Geoffrey Kendrick released a new report indicating that institutional investors are accelerating their entry into the Bitcoin market. The Q4 13F filings show that, in addition to hedge funds maintaining dominant buying power, the buying intensity from banks has significantly increased.

The Abu Dhabi sovereign fund has approximately 4,700 equivalent Bitcoins in the BlackRock IBIT ETF, and this scale is expected to expand further. Kendrick stated that the Czech central bank is considering allocating 5% (about 7 billion euros) of its 140 billion euro reserves to Bitcoin, and the Swiss central bank is also in the early stages of exploring Bitcoin investments.

As the barriers to institutional entry lower and volatility decreases, more institutional portfolios will gradually move from an underweight position in Bitcoin to an optimal allocation level. Kendrick maintains his prediction that the price of Bitcoin will reach $500,000 by 2028.

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