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

Solely a day after the US President Donald Trump introduced that Bitcoin is “within the coronary heart” of a nationwide strategic crypto reserve, Customary Chartered Financial institution’s head of Digital Belongings Analysis Geoff Kendrick that he’s now once more at his “$ 500,000 Bitcoin worth goal”. “

“We’ve got moved from promoting rallies to purchasing dips,” Kendrick Reportedly point out in an e -mail. “And that’s the reason I focus once more on my Bitcoin goal of $ 500,000 … Given these developments, which be a part of our earlier expectations, we are going to proceed to focus Bitcoin at $ 200,000 by the tip of 2025. Then we count on that Bitcoin will attain $ 300,000 by the tip of 2026, $ 400,000 on the finish of 2027 and $ from $ 5008 2029. “

Kendrick additional mentioned that Trump’s embrace of Bitcoin might feed particular person states in a strategic reserve to tackle Bitcoin reserves, and finally hold as a lot bitcoin because the federal authorities all collectively.

Matthew Sigel Vaneck lately additionally issued a latest report on the potential accumulation of Bitcoin by particular person states, which confirmed that if the query of this 20+ strategic Bitcoin reserve payments might purchase greater than 242,787 BTC. You may observe the standing of those accounts Here on Bitcoin laws.

The announcement of Trump of an official Bitcoin reserve may additionally be capable to feed the help for the strategic reserve account of Senator Cynthia Lummis, unveiled throughout the Bitcoin 2024 convention in Nashville final summer time, which might purchase the US 200,000 Bitcoin a yr till it was 1,000,000 BTC. Lummis has already met Trump’s new crypto -tsaar David Sacks and Minister of Finance Scott Bessent About her Bitcoin Reserve Invoice, and said In January each legislator offers this laws a severe view. Time is now. The president is a visionary chief and we’re able to get this invoice on his desk. “