Bitcoin (BTC) remains below $100,000, facing pressure from a potential global trade war, but Standard Chartered’s Head of Digital Asset Research, Geoffrey Kendrick, has made a bold prediction—Bitcoin could soar to $500,000 before 2028.
Meanwhile, BlackRock is reportedly launching a Bitcoin exchange-traded product (ETP) in Europe, signaling continued institutional interest in digital assets.
Here are the top factors that could drive Bitcoin’s price to half a million dollars.
Why Bitcoin Could Hit $500,000 – Standard Chartered’s Forecast
According to Geoffrey Kendrick, Bitcoin’s potential rally will be fueled by:
- Increased investor accessibility as financial institutions integrate BTC into mainstream portfolios.
- Declining market volatility will encourage long-term investors.
- Growth of US Spot Bitcoin ETFs, further expanding BTC’s role as a financial instrument.
If these factors align, BTC could reach $500,000 before the end of Donald Trump’s second term as U.S. President.
BlackRock Prepares to Launch Bitcoin ETP in Europe
In another major development, BlackRock is reportedly working on a Bitcoin exchange-traded product (ETP) for European investors, according to a Bloomberg report citing anonymous sources.
The product is expected to be domiciled in Switzerland, though official details are yet to be disclosed. Insiders suggest BlackRock could start marketing the fund this month, indicating strong institutional demand for Bitcoin.
FDIC and Trump’s Administration Pushing Crypto Adoption
Another key catalyst for Bitcoin’s rally is the growing support from U.S. financial regulators:
- Travis Hill, interim chairman of the Federal Deposit Insurance Corporation (FDIC), announced that the agency is restructuring its digital asset supervision.
- The FDIC is reviewing past guidance that discouraged banks from engaging with cryptocurrency businesses, potentially allowing traditional financial institutions to enter the crypto space more freely.
Meanwhile, Donald Trump’s administration is actively shaping a pro-crypto environment:
- Trump recently signed an executive order to create a digital asset stockpile for the U.S., which would include Bitcoin and other key assets.
- Hester Peirce has been appointed as the head of the SEC’s crypto task force, aiming to regulate and support the crypto industry.
Bitcoin Strategic Reserve for the U.S.?
Plans are also in motion to create a Bitcoin strategic reserve for the United States.
- Crypto and AI Czar David Sacks stated in a press conference that the President’s Working Group is exploring the feasibility of a federal Bitcoin reserve.
- If implemented, this move could boost Bitcoin adoption globally and increase its status as a reserve asset.
Will Bitcoin Hit $500K?
With institutional giants like BlackRock pushing for more BTC exposure, and Trump’s administration embracing crypto policies, Bitcoin’s long-term bullish case remains strong.
If regulatory clarity improves and ETFs continue attracting institutional capital, BTC hitting $500,000 may not be far-fetched.
