Bitcoin reaching $500K? Standard Chartered Claims It’s Feasible by 2029
Standard Chartered remains steadfast in its ambitious BTC projection: $500,000 per coin by the decade’s conclusion. The bank’s forecast isn’t merely for attention; it’s substantiated by trends in ETFs, stocks, and national funds. Although it may initially appear unlikely, the bank believes there are increasing grounds to regard that figure seriously. Governments, whether overtly or covertly, are gradually gaining exposure to BTC. They’re doing so in an unexpectedly discreet and indirect fashion.
Governments Are Acquiring Bitcoin, Just Not as You Might Expect
As indicated by a recent report from the bank’s digital assets division, sovereign wealth funds and government institutions aren’t rushing to set up crypto wallets. Instead, they’re investing in shares of companies that have already accumulated significant amounts of Bitcoin.
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Standard Chartered claims SEC 13F filings bolster #Bitcoin reaching $500,000 by 2028
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MicroStrategy, the software company recognized for its proactive Bitcoin strategy, is central to this tactic. It currently possesses over 214,000 Bitcoin, and its shares have become a type of indirect investment for those seeking Bitcoin exposure without physically holding it. In the first quarter, France and Saudi Arabia are reported to have acquired stakes in MicroStrategy, while public funds from Norway, Switzerland, and South Korea also purchased shares, thus indirectly linking themselves to Bitcoin’s value.
In the United States, pension funds in New York and California have taken a similar approach, gaining exposure to about 1,000 Bitcoin via MicroStrategy shares.
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The Logic Behind Indirect Exposure
Not every nation can directly engage with crypto assets. Whether due to legal obstacles, political considerations, or just general prudence, numerous governments remain hesitant about holding Bitcoin outright. Yet investing in a firm already possessing it? That’s considerably easier.
This way, they circumvent custody challenges, the price fluctuation threats associated with direct ownership, and the potential public backlash that might arise from suddenly announcing, “Hey, we’re now holding BTC.” Instead, they discreetly cultivate exposure through stocks and maintain their flexibility.
Nonetheless, not all are remaining invested. The Wisconsin state pension fund has recently divested from BlackRock’s iShares Bitcoin Trust, relinquishing its exposure to about 3,400 Bitcoin. On the contrary, Abu Dhabi’s Mubadala is taking the opposite approach, increasing its stake to around 5,000 Bitcoin through the same ETF.
A Larger Shift Is Emerging
Geoffrey Kendrick, Standard Chartered’s global head of digital assets research, observes a transformation in institutional attitudes towards BTC. He notes that portfolios that previously ignored Bitcoin entirely are gradually becoming more receptive. As price swings decreases and accessibility improves, those underweight positions will likely expand.
This isn’t Kendrick’s first bullish prediction. In April, he elevated his end-of-2025 BTC target to $200,000, highlighting considerable inflows into spot ETFs. Such movements, in his opinion, are indications of Bitcoin evolving from a speculative asset into something credible for serious institutions to consider, even if cautiously.
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$500K Still Sounds Radical, But Perhaps Not So Radical
Standard Chartered’s price projection is not a quick spike. It represents a long-term perspective based on the anticipated increase in demand if these trends continue. With governments now discovering secure, indirect avenues to engage, the foundations are gradually being established.
Regardless of your belief in the figure, Standard Chartered’s BTC forecast is influencing discussions on long-term crypto asset value. A BTC price of half a million may still appear ambitious, but if the globe’s largest institutions slowly progress toward it, that figure might not be as outrageous as it seems.
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Key Takeaways
- Standard Chartered is adhering to its $500,000 BTC price prediction for 2029, highlighting increasing institutional and government-linked investments.
- Governments are acquiring Bitcoin indirectly by investing in firms like MicroStrategy, which possesses over 214,000 Bitcoin.
- Indirect investments sidestep legal and political barriers, enabling sovereign and pension funds to discreetly capitalize on Bitcoin’s potential.
- Significant funds from France, Saudi Arabia, Norway, and South Korea have invested in MicroStrategy, while others use ETFs like BlackRock’s IBIT.
- Standard Chartered perceives this gradual, steady institutional adoption as a groundwork for Bitcoin’s long-term growth, potentially reaching $500K by 2029.
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