Bitcoin to $500K by 2028: Standard Chartered's Bold Prediction

Standard Chartered Bank Predicts Bitcoin Price Surge to $500,000 by 2028

Standard Chartered Bank, a prominent British multinational bank, has recently published a bold forecast suggesting that Bitcoin (BTC) could surge to a staggering $500,000 before the end of Donald Trump's potential administration. This prediction is based on the belief that a friendlier regulatory framework, along with enhanced access through the launch of Bitcoin spot exchange-traded funds (ETFs) in January 2024, will propel BTC's adoption among investors.

According to the bank's projections, Bitcoin's price trajectory will be gradual yet substantial. The bank anticipates that Bitcoin will move from an anticipated $200,000 in 2025, to $300,000 in 2026, followed by $400,000 in 2027, ultimately reaching its forecasted peak of $500,000 in 2028. Currently valued at around $98,600, this represents a potential increase of 407% from its pre-Trump electoral victory price of $68,800. The implications of this price growth are significant, suggesting Bitcoin could boast a market capitalization of approximately $10.5 trillion, thereby overtaking tech giants like Apple and Microsoft and drawing closer to gold's total market cap of $19.4 trillion.

The primary catalyst for this bullish outlook, as per Standard Chartered, is the anticipated increase in investor access following the introduction of Bitcoin spot ETFs, which have reportedly attracted around $39 billion in net inflows. Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, noted, "This supports the theory of pent-up demand being unleashed by increased access." Furthermore, Kendrick highlighted regulatory advancements, including the repeal of Staff Accounting Bulletin (SAB) No. 121, which initially categorized digital assets as liabilities, as a major step forward for the cryptocurrency sector. Such movements indicate a trend towards more favorable conditions for Bitcoin investment.

Additionally, Kendrick referenced Trump's directive for an evaluation of a potential national digital assets stockpile, which could spur central banks to consider allocating funds into Bitcoin. As traditional investors gradually re