Bitcoin's New All-Time High Predicted by Standard Chartered
1min read Standard Chartered has predicted that Bitcoin is on the verge of reaching a new all-time high. The bank's forecast is based on several key factors, including strong accumulation activity by Bitcoin ETFs and major companies in the sector, as well as the growing institutional adoption of Bitcoin in the US.
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Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, attributes this potential surge to inflows into ETFs, Strategy’s investment strategy, and institutional involvement. According to Glassnode data, ETF inflows have returned strongly over the past two weeks, coinciding with Bitcoin's rebound from $84,000 to $99,000. Kendrick emphasized that Bitcoin’s price appreciation is now all about flows, with spot ETFs in the US seeing significant inflows.
Another key factor Kendrick pointed out is Strategy’s ongoing Bitcoin accumulation. Data from BitcoinTreasuries shows that the company has steadily accumulated Bitcoin since late 2024. With the recent price recovery, Strategy’s total holdings have reached a record value of over $53.8 billion. Kendrick noted that Strategy now holds 555,450 Bitcoins, which is 2.6% of all Bitcoins that will ever exist. Their new plan to raise an additional $84 billion to buy more Bitcoin would add another 840,000 Bitcoins. At a $100,000 price, this would increase their holdings to more than 6% of all Bitcoins that will ever exist.
Kendrick also highlighted the increasing involvement of major institutions, including Abu Dhabi’s sovereign wealth fund, the Swiss national bank, and the Norges Pension Fund. This trend signals the rising acceptance of Bitcoin in traditional portfolios. Additionally, local governments in the US are taking action, with states like Arizona, New Hampshire, Texas, and Oregon making significant progress on strategic Bitcoin reserve legislation. New Hampshire recently became the first us state to pass a Strategic Bitcoin Reserve bill, and other states are expected to follow suit.
Given all these factors, Kendrick remains optimistic about Bitcoin’s price outlook. However, he admits that his forecast might be conservative, stating, "I apologize if my $120,000 Q2 target may be too low." The combination of strong ETF inflows, Strategy’s aggressive accumulation, growing institutional participation, and supportive local policies in the US is creating a perfect storm for Bitcoin. According to Standard Chartered, a new Bitcoin all-time high isn’t just possible—it may be right around the corner.
