Standard Chartered still sees bitcoin hitting $500,000 despite recent selloff
PUBLISHED THU, FEB 27 2025 9:44 AM EST
Ryan Browne@RYAN_BROWNE_
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KEY POINTS
- Geoffrey Kendrick, head of digital assets research at Standard Chartered, believes bitcoin will hit the $200,000 mark this year before climbing even further to $500,000 in the coming years.
- "As the industry becomes more institutionalized, it should be safer," Kendrick told CNBC, adding this should result in fewer negative headlines like the recent $1.5 billion hack on crypto exchange Bybit.
- Bitcoin earlier this week sank to a three-month low below $90,000 amid declines in global equity markets.
Jakub Porzycki | Nurphoto | Getty Images
Standard Chartered's bullish crypto analyst still sees bitcoin's price hitting $500,000 during Donald Trump's presidency — even after a selloff that sank the world's largest digital currency to a three-month low.
Geoffrey Kendrick, who heads up digital assets research at Standard Chartered, told CNBC he believes bitcoin will hit the $200,000 mark this year before climbing even further in the coming years.