Bitcoin at $500K? Standard Chartered Analyst Says

In a February 27 interview with CNBC’s Street Signs, Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered, remained bullish on Bitcoin, despite its recent price declines and market volatility.

Kendrick reiterated his bold prediction that Bitcoin will reach $200,000 this year and $500,000 before the end of President Trump’s term.

📉 Bitcoin’s Crash? No Big Deal

Kendrick acknowledged that geopolitical uncertainty and recent crypto market turmoil have shaken investor sentiment.

“Initiatives in the last couple of weeks have been very confusing for risk assets […] tariffs on and off, geopolitical tensions, and uncertainty in the Middle East.”

He also pointed to several industry-specific issues, including:

🔹 The $1.4 billion Bybit hack
🔹 Solana meme coin scams
🔹 Heavy outflows from Bitcoin ETFs since Trump’s inauguration

Despite these setbacks, Kendrick believes Bitcoin’s long-term potential remains intact.

📊 Bitcoin as a Market Hedge?

When asked whether Bitcoin is still a true diversifier, Kendrick admitted that during large market moves, BTC trades more like a risk asset.

However, he remains optimistic about Bitcoin’s role as a hedge against traditional financial risks:

“Medium-term, I think the diversification story is reasonable […] Bitcoin is still a hedge against risks in traditional markets.”

Kendrick also acknowledged ETF investors are feeling the heat, noting:

🔹 $3 billion in Bitcoin ETF outflows last week
🔹 Post-election Bitcoin buyers are down about $2 billion in paper losses

“When you see moves like we saw this week, you tend to get some panic selling.”

🚀 Bitcoin to $500K? Institutional Adoption Holds the Key

Kendrick argued that more institutional participation is needed to reduce hacks and volatility, citing major players like BlackRock and Standard Chartered.

“As the industry becomes more institutionalized, it should be safer […] Hopefully, we get some regulatory clarity in the U.S. too.”

🔹 Key drivers for Bitcoin’s long-term surge:

✅ More regulatory clarity on stablecoins & KYC rules
✅ Increased adoption by public pension funds & sovereign wealth funds
✅ Growing Bitcoin reserves by U.S. states & international governments

Kendrick highlighted that the Abu Dhabi Sovereign Wealth Fund had purchased 4,700 BTC-equivalent shares in BlackRock’s Bitcoin ETF at the end of 2024.

“I’d expect more sovereign wealth funds to enter the space this year.”

💭 The Bottom Line: Will Bitcoin Hit $200K This Year?

While short-term uncertainty remains, Kendrick sees Bitcoin’s long-term trajectory as overwhelmingly bullish.

He believes that institutional adoption and clearer regulations will drive BTC to:

✅ $200K by the end of 2025
✅ $500K before Trump’s term ends

For now, Bitcoin trades at $81,428, leaving investors wondering:
👉 Is this dip a buying opportunity or the start of a longer downturn?