Key Takeaways
- Standard Chartered forecasts Bitcoin reaching $500,000 by 2028.
- Bitcoin ETFs have attracted $39 billion in net inflows since launching in January 2024.
- Declining volatility and expanded institutional access are expected to drive Bitcoin’s long-term price growth.
Bitcoin could reach $500,000 by the end of 2028, according to Standard Chartered’s global head of digital assets research, Geoffrey Kendrick.
In a research note published Wednesday, Kendrick cited improved institutional access and declining volatility as key drivers for Bitcoin’s long-term price appreciation.
ETF impact
Kendrick wrote in the note:
While Bitcoin may see near-term volatility, the long-term trajectory is becoming increasingly clear.
He emphasized the success of U.S. spot Bitcoin ETFs launched in January 2024, which have accumulated $39 billion in net inflows.
Kendrick expects Bitcoin’s volatility to decrease as the ETF market matures and institutional options trading expands.
Gold comparison
Drawing parallels to gold, Kendrick noted how gold prices increased 4.3x after the introduction of ETPs in 2004.
He anticipates Bitcoin ETFs could drive comparable growth within a two-year timeframe.
Regulatory support
The analysis points to supportive regulatory developments under the Trump administration, including the removal of SAB 121 accounting restrictions on digital assets and recent executive orders exploring a national Bitcoin reserve strategy.
Price targets
Standard Chartered’s price targets for Bitcoin are:
- $200,000 by end-2025
- $300,000 by 2026
- $400,000 by 2027
- $500,000 by 2028
They expect prices to stabilize at that level through 2029.
