Standard Chartered Raises Bitcoin Price Target to $200K by Year-End

Standard Chartered has boosted its Bitcoin price prediction, forecasting it will reach $200,000 by the end of this year. This bullish view is attributed to increased institutional demand and a shift in asset allocation strategies towards cryptocurrencies. Head of Digital Assets Research at Standard Chartered, Geoffrey Kendrick, explains that this revised target reflects inflows from both sovereign wealth funds like those in Switzerland and Abu Dhabi, as well as significant investment from companies such as MicroStrategy and BlackRock’s ETF.