In its recent report, Standard Chartered predicts a significant price surge for Bitcoin, foreseeing it could reach $500,000 by 2028. This forecast is tied to changes in investment strategies from institutional investors.
Change in Institutional Interest
The Standard Chartered report, led by Geoff Kendrick, indicates changes in institutional interest based on data from the U.S. SEC. Specifically, there is a growing interest in digital assets, confirming a shift in investment portfolios towards Bitcoin.
Shift to Indirect Investments
According to the report, many institutions and sovereign funds have begun exploring ways to gain Bitcoin exposure through intermediate assets like shares of Strategy (formerly MicroStrategy). This is related to the anticipation of reduced Bitcoin volatility.
Future of the Cryptocurrency Market
Standard Chartered also noted that there is a decrease in Bitcoin ETF holdings as funds begin to adapt to new market conditions. Regulatory changes could increase interest in indirect investments in Bitcoin, leading to broader adoption.
Thus, Standard Chartered's forecast highlights the significance of institutional changes in investment strategies that could impact Bitcoin's long-term price resilience.
