Standard Chartered Stands by $500,000 Bitcoin Target Despite Market Selloff

Despite a recent downturn in the cryptocurrency market, Standard Chartered remains bullish on Bitcoin’s long-term trajectory, maintaining its projection that the leading digital asset could reach $500,000 before the end of President Donald Trump’s second term.

Geoffrey Kendrick, head of digital assets research at Standard Chartered, reaffirmed his forecast, predicting that Bitcoin will hit $200,000 by the end of this year before surging even higher in the coming years.

"As the industry becomes more institutionalized, it should be safer," Kendrick told CNBC, emphasizing the role of traditional financial players like Standard Chartered and BlackRock in legitimizing the digital asset space.

Market Selloff and Institutional Adoption

Bitcoin’s price recently dipped below $90,000 for the first time in three months amid broader declines in global equity markets. As of Thursday, Bitcoin was trading at $86,418, marking a 20% drop from its all-time high of $108,786 in January, according to CoinGecko data.

However, Kendrick attributed this downturn to temporary uncertainties, including tariff policies, geopolitical conflicts, and a $1.5 billion hack on cryptocurrency exchange Bybit.

Despite recent turbulence, institutional adoption remains a key driver for Bitcoin’s long-term growth. Kendrick believes that increasing regulatory clarity in the U.S. will provide the stability and confidence needed for major financial institutions to increase their exposure to digital assets.

"That should add to that medium-term, top-side potential, which for me is Bitcoin up to $200,000 this year, and $500,000 before Trump leaves office," he said.

Regulatory Developments and Trump’s Crypto Agenda

Bitcoin’s long-term outlook is also being shaped by the Trump administration’s crypto-friendly stance. In January 2025, Trump signed an executive order aimed at advancing cryptocurrency development in the U.S. and establishing a national digital asset stockpile.

Crypto advocates view Trump as an ally, as the industry gained significant political influence during the 2024 election cycle, with crypto firms and investors contributing heavily to Trump’s campaign.

Upcoming U.S. regulations on stablecoins and anti-money laundering laws are expected to provide further legitimacy to the crypto sector, encouraging greater institutional participation.

"That should further legitimize [crypto], so you’ll see more U.S. banks involved. You’ll see larger institutions in the U.S. continue to push through," Kendrick added.

Market Outlook: Bitcoin’s Path to $500,000

• Institutional Involvement: Standard Chartered and other major players are increasing their crypto exposure.
• Regulatory Clarity: New U.S. laws on stablecoins, anti-money laundering, and exchange regulations are expected to reduce volatility.
• Macroeconomic Factors: Bitcoin’s price movements remain influenced by global trade tensions, interest rate policies, and geopolitical conflicts.
• Political Support: The Trump administration’s pro-crypto stance has encouraged market confidence.

While Bitcoin is facing short-term headwinds, Kendrick believes long-term fundamentals remain strong, reinforcing Standard Chartered’s prediction of a half-million-dollar price target in the coming years.