Bitcoin goes to $ 500,000? According to Banco Standard Chartered, it could happen. According to his analysts, it would be “a logical consequence of current institutional development”.
Bitcoin price objective is always ambitious
The British Bank Standard Chartered maintains are Surprising prediction: the Bitcoin price It could reach $ 500,000 in the long term. They base the rise on certain recent events in the world of cryptocurrencies. For example, the influx of FNB (funds cited on the stock market) of the American Bitcoin and the growing interest of the government in the Bitcoin reserves contribute to it.
Since the beginning of 2024, Bitcoin in cash ETF has been active in the United States. These products have considerably facilitated entry into Bitcoin. Large companies like Blackrock and Fidelity now offer these ETFs. According to Standard Charterd, this regulated access makes Bitcoin more attractive than ever for institutional investors.
The bank considers that bitcoin gradually goes through a risky investment to become a crucial element of an investment portfolio. According to the bank, this change was partly possible for greater normative clarity and the appearance of known and large names on the market. Consequently, the investment barrier for investors is much lower.
Institutions that buy bitcoin via etf
Standard Charterd sees clear indications that the institutional adoption of Bitcoin is already underway. For example, dry files show that important financial entities have already taken Bitcoin ETF positions in cash.
However, according to the bank, this is only the beginning. If the current trend is maintained and more entities follow it, structural increases in Bitcoin demand could occur. Due to the limited bitcoin supply, this increase in demand could have an impact on the price.
More important demand, limited bitcoin offer
Standard Charterd does not specifically indicate when these $ 500,000 could be affected. However, they see the appropriate ingredients for this price increase. A combination of regulation, an increasing interest of the main financial institutions and the limited offer of Bitcoin create favorable conditions, according to the bank.
Bitcoin seems more and more as an alternative to invest, instead of traditional assets such as gold, according to the bank. While this trend continues, Standard Charterd expects the price to increase considerably in the long term.
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