Standard Chartered reaffirms its projection for Bitcoin’s price to reach $500,000 before President Donald Trump’s term ends. The bank cites growing government exposure as a key driver behind this prediction. Sovereign entities have increased their indirect Bitcoin holdings in the first quarter by investing in publicly traded company Strategy (MSTR), which acts as a proxy for Bitcoin. This trend fuels Standard Chartered’s projection, suggesting an increase in structural demand for Bitcoin. The report highlights the significance of MSTR holdings by various government entities like Norway’s Pension Fund, Swiss National Bank, and South Korea’s pension and investment bodies. These significant investments suggest growing interest in indirect Bitcoin exposure.