Bitcoin to Surge to $500,000 by 2028: Standard Chartered

Standard Chartered Bank, a British multinational banking and financial services company, has recently made a bold prediction regarding the future of Bitcoin (BTC). The bank forecasts that the cryptocurrency could surge to a staggering $500,000 by the year 2028, driven by regulatory changes and increased accessibility.

The bank's prediction is based on a more favorable regulatory environment and enhanced access to Bitcoin, which could lead to significant growth in the cryptocurrency's value. Standard Chartered expects Bitcoin to reach $200,000 in 2025, followed by a steady rise to $300,000 in 2026, $400,000 in 2027, and finally hit $500,000 in 2028, before stabilizing the following year.

Currently, Bitcoin is priced at $98,600, representing a 43% increase from its pre-election price of $68,800. If Standard Chartered's prediction of $500,000 comes to fruition, it would signify a 407% increase from the current position. At that price, Bitcoin's market cap would potentially reach $10.5 trillion, surpassing both Apple and Microsoft, and account for approximately half of gold's $19.4 trillion market cap.

Standard Chartered sees substantial growth potential for Bitcoin, largely attributed to the increased investor access following the introduction of Bitcoin spot exchange-traded funds (ETFs) in the U.S. in January 2024. This development is expected to drive further demand and boost Bitcoin's value.