As Bitcoin prices surged above $100,000 for the first time on Wednesday night, Standard Chartered believes the flagship cryptocurrency could double in price by the end of next year. Analyst Geoff Kendrick said in a report on Thursday that the company’s Bitcoin price target of around $200,000 by the end of 2025 is “achievable.” “We would become more bullish if U.S. pension funds, global sovereign wealth funds (SWFs), or potentially the U.S. Strategic Reserve Fund absorbed Bitcoin faster,” Kendrick wrote. “By 2025, we expect institutional funding Flows will continue at or above 2024 rates. MicroStrategy is exceeding its $42 billion three-year plan, so its 2025 purchases should match or exceed 2024 purchases since President-elect Donald Trump was elected. Bitcoin has soared more than 140% so far this year and is up 48% since the election victory on November 5. BTC.CM= Bitcoin price surges so far in 2024 Kendrick pointed out that as early as April 2023, Standard Chartered expected Bitcoin to rise. The coin will rise to $100,000 by the end of 2024, when the digital currency is trading around $27,000.
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved