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Standard Chartered: Bitcoin to Reach $500,000 Before Trump Leaves Office

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Son Min
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  • Standard Chartered predicts that Bitcoin will reach $500,000 before Trump leaves office.
  • The U.S. Bitcoin Spot ETF has increased investor accessibility, which is expected to positively impact Bitcoin's rise.
  • As Bitcoin is recognized as a strategic asset and investments from countries and large institutions increase, volatility is expected to ease.
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  • The article was summarized using an artificial intelligence-based language model.
  • Due to the nature of the technology, key content in the text may be excluded or different from the facts.

There is a claim that Bitcoin (BTC) could reach $500,000 before the end of Donald Trump's term as President of the United States.

According to Decrypt on the 5th (local time), Standard Chartered (SC) stated, "Bitcoin will reach $500,000 before the end of President Trump's term," predicting that it will start at $200,000 this year, rise to $300,000 next year, and steadily increase to $400,000 and $500,000 in 2027 and 2028, respectively.

SC explained that a favorable environment for Bitcoin's rise has been created. Jeffrey Kendrick, head of research at SC, said, "The U.S. Bitcoin Spot ETF has greatly increased accessibility for investors," and noted that the repeal of SAB 121, which allows banks to record virtual assets as liabilities on their balance sheets, is also a significant development. He added, "There is a possibility that Trump might stockpile Bitcoin as a strategic asset," and "Other countries might also consider stockpiling Bitcoin."

He continued, "(As countries and large institutions participate in Bitcoin investment) the volatility of Bitcoin will gradually ease," and "Traditional investors who feared Bitcoin's price fluctuations will also participate, leading to an increase in Bitcoin's price," he elaborated.

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sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit