Bitcoin to Surge to $500,000 by 2028: Standard Chartered Bank's Bullish Forecast

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Standard Chartered Bank Predicts Bitcoin to Surge to $500,000 by 2028 Amid Regulatory Changes

Standard Chartered Bank, a prominent British multinational bank, has published a bullish forecast for Bitcoin's future price trajectory. The bank anticipates that Bitcoin could escalate to an astounding $500,000 by the end of Donald Trump's potential administration, driven by a more regulatory-friendly framework and enhanced investor access through the launch of Bitcoin spot ETFs in January 2024.

Projected Growth Timeline for Bitcoin

According to the bank's projections, Bitcoin's price trajectory will be gradual yet substantial, moving 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 potential increase of 407% from its pre-Trump electoral victory price of $68,800 would place Bitcoin's market capitalization at approximately $10.5 trillion, overtaking tech giants like Apple and Microsoft and drawing closer to gold's total market cap of $19.4 trillion.

Factors Driving Bitcoin’s Growth

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, a senior analyst at the bank, 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 previously 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.

Potential Impact of Regulatory Changes