The UK-based banking giant Standard Chartered believes that Bitcoin will reach $150,000 by the end of the year.
Standard Chartered has raised its year-end price prediction for Bitcoin from $100,000 to $150,000. In a report published on Monday, March 18, via email, analysts at Standard Chartered Bank, led by Geoffrey Kendrick, indicated increased institutional volume, especially after the approval of a spot Bitcoin ETF.
Analysts predicting that spot Bitcoin exchange-traded fund (ETF) inflows could reach $75 billion said that Bitcoin could climb to $250,000 by 2025 if this scenario materializes.
Comparing spot Bitcoin ETFs with gold ETFs was another noteworthy point. With the reality that investors hold 80% gold and 20% Bitcoin in their portfolios, it was emphasized that the price of Bitcoin will inevitably rise:
Considering the analogy with gold, these prices indicate a more accurate area for predicting the ‘correct’ Bitcoin price level in the medium term, both in terms of the ETF effect and the optimal portfolio mix. Assuming that the price of gold has not changed, for the share of BTC in our portfolio optimization to rise to the stated 20%, the BTC price would need to rise to $190,000. If ETF inflows reach our midpoint estimate of $75 billion and/or reserve managers buy BTC, we see a high likelihood of surpassing the $250,000 level at some stage of 2025.
