Standard Chartered says Bitcoin could hit $500K under Trump

Standard Chartered’s Geoffrey Kendrick has predicted Bitcoin could reach $500,000 by 2028.

He attributes this potential surge to improving investor access and decreasing volatility, particularly as institutional involvement grows and financial infrastructure continues to mature.

"Although the near-term remains choppy for Bitcoin, the long-term is becoming clearer by the day," Kendrick said, as quoted by The Block.

Kendrick’s Bitcoin price trajectory sees $200,000 by the end of 2025, followed by $300,000 by 2026, $400,000 by 2027, and ultimately half a million dollars by 2028, where he expects it to remain through 2029.

Institutional access

Kendrick, who serves as Standard Chartered's global head of digital assets research, believes the Trump administration is creating a more favorable environment for Bitcoin adoption. In his latest report, he pointed to US spot Bitcoin ETFs, which launched in January 2024 and have already attracted $39 billion in net inflows.

"Access is improving under the [Donald] Trump administration," Kendrick noted. "Institutional inflows will continue to gather pace. And vol will gradually come lower as the quality of flows improves and other infrastructures (e.g., options markets) expand."

A key factor in Bitcoin’s potential rise is a decrease in volatility — a critical issue that has historically kept large investors on the sidelines. Kendrick expects that as the ETF market matures, Bitcoin’s price movements will stabilize, making it more appealing for institutional investors.

Drawing parallels to Gold’s rise

Kendrick drew a comparison to gold, highlighting its price surge after exchange-traded products (ETPs) were introduced in 2004. He believes Bitcoin could follow a similar pattern, but in a much shorter timeframe — two years instead of seven.

"As vol falls, Bitcoin's share of an optimized two-asset portfolio with gold increases," Kendrick explained.