Standard Chartered Forecasts Bitcoin to Hit $500,000 by 2028

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In a latest development, Standard Chartered, a British multinational bank, has issued a bold prediction that Bitcoin (BTC) could reach $500,000 before Donald Trump’s presidency ends. The bank expects this price surge due to a more favorable regulatory environment and increased access to Bitcoin. 

Notably, it forecasts Bitcoin will hit $200,000 in 2025, and then steadily rise to $300,000 in 2026, $400,000 in 2027, and finally hit $500,000 in 2028, before stabilizing the following year.

Bitcoin is currently priced at $98,600, up 43% from $68,800 before Trump’s November election win. Standard Chartered prediction of $500,000 could mean a 407% increase from the current position. At that price, Bitcoin’s market cap would possibly hit $10.5 trillion, surpassing Apple and Microsoft, and account for about half of gold’s $19.4 trillion market cap.

Standard Chartered sees significant growth potential for Bitcoin, largely due to the increased investor access following the introduction of Bitcoin spot exchange-traded funds (ETFs) in the U.S. in January 2024. This development is expected to drive further demand and boost Bitcoin’s value.