In a notable shift in Bitcoin‘s financial landscape, Standard Chartered Bank has revised its Bitcoin price forecasts following President Donald Trump’s announcement about incorporating Bitcoin into the national strategic reserve. Geoff Kendrick, who leads cryptocurrency research at the bank, highlighted adjustments aimed at adapting to these evolving circumstances.
What New Strategies are Emerging for Bitcoin?
In a recent email, Kendrick articulated a strategic pivot from a selling approach to identifying buying opportunities within the Bitcoin market.
Geoff Kendrick: “We have transitioned from selling waves to buying opportunities. In light of these developments, we aim for Bitcoin to reach $500,000 by the end of 2028.”
He also set ambitious milestones, predicting Bitcoin could hit $200,000 by the conclusion of 2025, followed by $300,000 in 2026, and eventually $400,000 by 2027.
How Might Political Decisions Shape Bitcoin’s Future?
Trump’s declaration has sparked discussions on whether states might establish their own Bitcoin reserves. A report from Matthew Sigel at VanEck anticipates that over 20 proposals for strategic reserves could prompt states to acquire substantial quantities of Bitcoin.
Senator Cynthia Lummis has been advocating for a strategic reserve bill that mandates the U.S. government to purchase a defined number of Bitcoins annually, with serious consideration underway in the House.
Senator Cynthia Lummis: “Every lawmaker is approaching this proposal with a serious mindset. The president is visionary, and we are ready for the bill to reach his desk.”
Officials believe that employing Trump’s reserve strategy at various governmental levels may amplify market interest, shaping new long-term price expectations.
– Standard Chartered Bank now anticipates Bitcoin could reach $500,000 by 2028.
– The bank forecasts interim values of $200,000 in 2025, $300,000 in 2026, and $400,000 in 2027.
– Trump’s announcement could encourage states to create their own Bitcoin reserves.
– Senator Lummis’s proposal for yearly Bitcoin purchases is gaining traction.
The recent developments surrounding Bitcoin are creating a complex interplay of legal frameworks and strategic financial actions that warrant close observation. The potential ramifications on market dynamics could be profound, making it essential for market participants to stay informed.
