Standard Chartered Bank Re-focuses On $500,000 Bitcoin Target After Trump Crypto Reserve Announcement

Just 1 time aft U.S. President Donald Trump announced that Bitcoin is going to “at the heart” of a nationalist strategical crypto reserve, Standard Chartered Bank’s Head of Digital Asset Research Geoff Kendrick stated that helium is present re-focusing connected his “$500,000 bitcoin terms target.”

“We person moved from selling rallies to buying dips,” Kendrick reportedly stated successful an email. “And hence I re-focus connected my $500,000 bitcoin target…Given these developments, which align with our erstwhile expectations, we proceed to people Bitcoin to scope $200,000 by year-end 2025. Thereafter, we expect Bitcoin to scope $300,000 by the extremity of 2026, $400,000 by the extremity of 2027, and $500,000 by the extremity of 2028, wherever it volition apt stay until the extremity of 2029.”

Kendrick further discussed that Trump’s clasp of Bitcoin successful a strategical reserve could substance idiosyncratic states to besides follow bitcoin reserves of their own, and eventually, clasp arsenic overmuch bitcoin arsenic the national authorities each together. 

VanEck’s Matthew Sigel besides precocious enactment retired a caller study connected the imaginable accumulation of bitcoin by idiosyncratic states, showcasing that if signed into law, the request from these 20+ strategical bitcoin reserve bills could spot states acquisition implicit 242,787 BTC. You tin way the presumption of these bills here connected Bitcoin Laws.

Trump’s announcement of an authoritative Bitcoin reserve perchance besides whitethorn substance enactment for Senator Cynthia Lummis’ Strategic Reserve Bill, unveiled astatine the Bitcoin 2024 Conference successful Nashville past summer, which would spot the U.S. acquisition 200,000 bitcoin per twelvemonth until it has bought 1,000,000 BTC. Lummis has already met with Trump’s caller Crypto Czar David Sacks and Treasury Secretary Scott Bessent astir her Bitcoin reserve bill, and said successful January that “Every legislator is giving this authorities a superior look. The clip is now. The President is simply a visionary person and we are acceptable to get this measure to his desk.”