Standard Chartered Predicts Bitcoin to Hit $500,000 by 2028, Citing Increased Government Holdings in Strategy Before Trump Leaves Office

Standard Chartered Bank has forecasted that Bitcoin could reach $500,000 by the end of 2028, citing recent U.S. Securities and Exchange Commission (SEC) 13F filings as evidence. The bank’s head of digital assets research, Geoff Kendrick, noted that despite a decline in direct Bitcoin exchange-traded fund (ETF) holdings in the first quarter, government entities have increased their stakes in Strategy, formerly known as MicroStrategy, to gain exposure to Bitcoin. Strategy currently holds 576,230 BTC, valued at approximately $59 billion at current market prices.

The report from Standard Chartered highlights that this indirect exposure to Bitcoin through Strategy is a key factor supporting their bullish outlook. The bank pointed out that several government bodies, including Norway’s Government Pension Fund, the Swiss National Bank, the South Korean National Pension Service, the Korea Investment Corporation, U.S. state retirement funds such as those in California, New York, and North Carolina, AP Funds in Sweden, Landesbank in Liechtenstein, France’s Caisse des Dépôts et Consignations, and the Saudi Central Bank, have increased their holdings of Strategy. This reflects a broader institutional interest in Bitcoin, with Standard Chartered suggesting that Bitcoin could reach $500,000 before President Trump leaves office.

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