Standard Chartered: US SEC Data Supports Bitcoin Reaching $500,000 Target by 2028

Geoff Kendrick from Standard Chartered Bank stated that the recent 13F report from the U.S. Securities and Exchange Commission (SEC) supports the expectation that Bitcoin could rise to $500,000 by the end of 2028. Although the shares of Bitcoin ETFs directly held decreased in the first quarter, government agencies increased their holdings in Strategy (formerly MicroStrategy), which is seen as an alternative investment tool for Bitcoin. This may reflect the efforts of institutions to gain Bitcoin exposure under regulatory constraints.