A new report from Standard Chartered predicts a significant increase in Bitcoin’s price over the next few years. The report forecasts Bitcoin reaching $500,000 per coin by 2028, driven by institutional investment trends and evolving portfolio strategies. This prediction is based on data showing an increasing interest from sovereign funds and institutions seeking indirect exposure to Bitcoin through proxies like MicroStrategy. The report highlights a trend of increased Bitcoin adoption across various portfolios as investors transition from traditional investments. Notably, government-backed entities are actively acquiring shares in companies with direct exposure to Bitcoin, such as Mubadala’s recent investment in MicroStrategy equivalent to 5,000 Bitcoin. This shift also reflects a decrease in Bitcoin ETF holdings observed by the SEC, suggesting a diversification away from direct investments and towards indirect exposure. Overall, Standard Chartered’s prediction underscores the growing role of institutions and sovereign entities in shaping Bitcoin’s future trajectory.