Standard Chartered: Trump's Crypto Reserve Plan Sets Bitcoin Target Price at $500,000 by 2028

2025-03-03 22:46:09

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ChainCatcher news, according to The Block, Standard Chartered's Head of Digital Assets Research Geoff Kendrick stated that the cryptocurrency reserve strategy announced by Trump provides long-term stability for Bitcoin, bringing renewed attention to his previously predicted target of $500,000.

Kendrick noted in an investor report: "We have shifted from selling on rebounds to buying on dips, so I am refocusing on the $500,000 target for Bitcoin." He predicts that Bitcoin will reach $200,000 by the end of 2025, $300,000 by the end of 2026, $400,000 by the end of 2027, and $500,000 by the end of 2028, potentially maintaining that level until the end of 2029.

Kendrick also emphasized the strategic importance of Trump's cryptocurrency reserve plan, believing it could encourage U.S. states to develop their own Bitcoin reserve plans, potentially holding a quantity of Bitcoin comparable to that of the federal government (around 200,000 coins). He stated: "Trump's announcement of the crypto reserve eliminated the possibility of 'bad outcomes' and created space for the crypto market to begin to rise."

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