Standard Chartered Bank Doubles Down on Bitcoin Following Trump’s Strategic Reserve Announcement
In a dramatic shift that has sent shockwaves through the crypto market, Standard Chartered Bank has reaffirmed its ambitious $500,000 Bitcoin price target following President Trump’s groundbreaking announcement about including Bitcoin in the national strategic reserve.
Key Price Predictions and Timeline
- End of 2025: $200,000
- End of 2026: $300,000
- End of 2027: $400,000
- End of 2028-2029: $500,000
Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, has made a decisive strategic pivot, stating, “We have moved from selling rallies to buying dips.” This fundamental shift in approach signals growing institutional confidence in Bitcoin’s long-term prospects.
State-Level Bitcoin Adoption Wave
The implications of Trump’s announcement extend beyond federal reserves. VanEck’s analysis suggests that pending state-level Bitcoin reserve bills could lead to the acquisition of over 242,787 BTC by individual states. This potential demand surge adds another layer of bullish momentum to the market.
The Lummis Strategic Reserve Bill
Senator Cynthia Lummis’s Strategic Reserve Bill has gained renewed attention, proposing an ambitious acquisition plan of 200,000 bitcoin annually until reaching 1,000,000 BTC. The bill has already garnered support from key administration figures, including Trump’s Crypto Czar David Sacks and Treasury Secretary Scott Bessent.
Market Implications and Analysis
The convergence of institutional backing, state-level adoption, and federal reserve plans creates a powerful catalyst for Bitcoin’s price appreciation. Standard Chartered’s progressive price targets reflect growing confidence in Bitcoin’s role as a strategic asset class.
Source: Bitcoin Magazine