Standard Chartered Predicts Bitcoin Could Hit $500,000 by 2028

Standard Chartered is targeting Bitcoin at $500,000 by 2028, driven by institutional money, Bitcoin ETFs, and improved fiscal policy.

Bitcoin to Hit $500,000 Before Trump Leaves Office

A new study by Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, has made a bold prediction about the king coin: Bitcoin will hit $500,000 by 2028. Kendrick believes that there are many factors driving Bitcoin to achieve this growth, notably:

• A more friendly regulatory environment under the Trump Administration.

• Large inflows of capital from many organizations into the crypto market.

• Investors’ access to digital assets is increasing.

• Bitcoin’s price volatility is trending downward as the quality of cash flows improves and derivatives markets (such as Bitcoin options) expand.

In this scenario, Kendrick projects Bitcoin to have a market capitalization of around $10.5 trillion, potentially surpassing Apple ($3.4 trillion) and Microsoft ($3 trillion). At that price, Bitcoin would also account for about half of Gold’s current market capitalization of $19.4 trillion.

Explaining the factors driving Bitcoin’s price to $500,000

Explaining his assessment, Kendrick emphasized that the launch of the US Bitcoin spot ETF in January 2024 has significantly expanded investor access, attracting more than $40 billion in net inflows to date.
Kendrick compared Bitcoin to gold, noting that the price of gold increased 4.3 times after the first gold spot ETF products were launched in 2004. He believes that Bitcoin ETFs will follow a similar trajectory, but more quickly, in about two years instead of seven.

He expects Bitcoin price volatility to continue to decline as the ETF market matures and financial infrastructure improves – especially with the expansion of options markets and institutional partners.

“As volatility declines, the weighting of Bitcoin in optimal gold portfolios will increase… Greater investor exposure and lower volatility will be bullish for Bitcoin in the long term as portfolios continue to move toward the optimal state.”

In addition to the growth of the ETF market, Kendrick believes that the Trump administration will continue to facilitate Bitcoin, especially after the repeal of SAB 121 – which had restricted companies from holding digital assets.

He also mentioned Trump’s executive order on the creation of a sovereign wealth fund, suggesting that this could prompt the central bank to consider investing in Bitcoin.

Concluding the report, Standard Chartered’s head of digital asset research stated that he maintained his previous Bitcoin price target of $200,000 by the end of 2025. He then expects Bitcoin to advance to $300,000 by the end of 2026, $400,000 by 2027, and $500,000 by 2028 – maintaining that level until the end of 2029.

Kendrick believes that these factors are enough to push Bitcoin to $500,000 before Donald Trump’s term as US President ends in 2029.

This is not the first time the British multinational bank has made a price prediction for the king of Bitcoin. In early 2023, Standard Chartered predicted that Bitcoin would reach $100,000 by the end of 2024, citing a number of reasons including the Fed’s pause on rate hikes, Bitcoin’s fourth Halving, and favorable crypto regulations.
As a result, Bitcoin reached $100,000 in December 2024, setting a historic ATH record. Currently, Bitcoin is trading around $98,200, a slight decrease due to the news surrounding Trump’s trade war.