Bitcoin to Hit $500,000 by 2028: Standard Chartered Bank's Bold Prediction

Standard Chartered Bank has made a bold prediction regarding the future price of Bitcoin. The bank expects the cryptocurrency to reach $200,000 by the end of this year, followed by an annual increase of $100,000 for the next three years. This would see Bitcoin's price reach $500,000 by 2028.

The bank's analyst, Geoff Kendrick, attributes this growth potential to increased investor participation since the launch of a Bitcoin exchange-traded fund (ETF) in the United States in January 2024. The narrative of national digital asset reserves is also seen as crucial, as it may encourage other central banks to consider Bitcoin investments, mitigating sharp fluctuations and attracting traditional investors.

The prediction comes amidst a period of significant growth and regulatory progress for the cryptocurrency industry. In February 2025, the U.S. Securities and Exchange Commission (SEC) announced the top ten priorities of its crypto working group and officially launched its website. This indicates a more regulatory-friendly environment, which could further boost Bitcoin's price.

However, it is essential to note that Bitcoin's price is volatile and subject to various factors, including market sentiment, regulatory changes, and technological advancements. While Standard Chartered Bank's prediction is optimistic, it is crucial to approach it with caution and consider other factors that could influence Bitcoin's price.