Standard Chartered maintains a bullish stance on bitcoin, predicting a price of $200,000 by the end of 2025 and up to $500,000 by 2028. Geoffrey Kendrick highlighted bitcoin’s role as a hedge against systemic risks, citing recent financial instability and its correlation with tech stocks. He anticipates further growth, particularly as concerns around the Federal Reserve intensify.
Standard Chartered has stuck to its optimistic forecast for bitcoin, setting a price target of $200,000 by the close of 2025, with ambitions to reach as high as $500,000 by 2028. Geoffrey Kendrick, who heads the bank’s digital assets research, shared these insights, emphasizing bitcoin’s potential as a safeguard against systemic risks faced by both the private and public sectors. The decentralised ledger technology is seen as a key aspect of its strength.
Kendrick pointed to recent financial turmoil, such as the collapse of Silicon Valley Bank in 2023, and ongoing worries about the stability of the U.S. Treasury market, as prime examples showcasing bitcoin’s resilience in tough financial times. He also noted that aside from these major risks, bitcoin’s price has tended to mirror movements of leading tech stocks, branded by Kendrick as the “Magnificent Seven.”
Concerns related to the independence of the Federal Reserve might present opportunities for bitcoin as well. There’s speculation around replacing Chairman Jerome Powell, which could create more uncertainty in the market, benefitting bitcoin as a perceived safe haven. Kendrick observed that the U.S. Treasury’s 10-year term premium recently hit a 12-year peak, and bitcoin’s connection to this premium has notably strengthened since early 2024.
Although bitcoin has not risen in tandem with the term premium recently, Kendrick believes it’s due to market anxieties surrounding tariffs, which can hit tech stocks hard. He remains confident that bitcoin could hit new records if fears regarding the Federal Reserve’s independence continue to grow. Kendrick also highlighted that the investment story around bitcoin is evolving, showcasing its adaptability within a variety of investment strategies.
In spite of bitcoin’s recent underperformance in the market, Kendrick has reiterated Standard Chartered’s long-term positive outlook. He pointed out that external economic pressures and systemic risks could drive bitcoin’s growth in the future, signalling potential for recovery and even expansion in its value.
