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Jeffrey Kindrik, the global president of Standard Charged, Geoffrey Kendrick, reaffirmed his outstanding expectations at Bitcoin. Kendrick, who imagines BTC up to $ 500,000 by 2028, is based on its guarantee on evidence of the increase in institutional participation-specifically a sign of sovereign wealth funds, government pension funds and other investors on a large scale.
Sovereign wealth boxes
According to a new report from Standard Chartered quote By the mass, Kendrick sees increasing signs that government -backed investment vehicles intensify their interest in bitcoin. This opinion is strengthened by the recent disclosure of Abu Dhabi of the position of 4,700 BTC in ISHARES Bitcoin Trust (IBIT) through the sovereign wealth box.
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“Although this is currently small, we expect to increase the volume over time, and in fact, to start other sovereignty also to buy,” Kendrick wrote in a report on Tuesday. He explained that Abu Dhabi’s move represents a strategic shift and may lead to a broader participation of other wealth boxes that look forward to diversifying its governor with BTC.
Kendrick is partially liked to deposit the 13F model – quarterly reports that institutional managers who supervise at least $ 100 million in assets are required to be submitted to the US Securities and Exchange Committee. Data review from the fourth quarter of 2024, Kendrick note a convincing direction.
He said in an email to the bloc: “13f files for Q4 show that the operation is ongoing … it is happening,” he said in an email to the bloc. In Standard Charterd analysis, Q4 data revealed that although hedge funds maintained their progress in Bitcoin’s purchases, banks – which started buying in the third quarter of last year – increased their positions.
Kendrick parallel between a previous stage in the development of the Bitcoin market, which is dominated by retailers and the most modern era, which witnessed hedge boxes jumping on the boxes on the stock exchange (ETFS). Now, the lights seem to be more expanded to include government investment managers and central banks.
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“This gives us comfort to say that even if buying through the strategy … [formerly MicroStrategy] Kindrik noted that more than 1 % of the offer that was at all) is slowly slowing (I bought 227,000 amazing BTC since the American elections, more than 1 % of the offer that exists at all), we believe that other buyers are waiting for intervention. “
Microstrategy emphasizes the importance of Bitcoin’s bitcoin with a private company. However, Standard Chartard’s analysis indicates that other large capital gatherings that may absorb the offer in the future, which supports long -term prices.
Among the institutions, Kendrick highlights the Wisconsin State Council and the Ministry of Treasury in Michigan State. However, it also indicates central banks as potential participants.
In the report, Kendrick refers to the Czech National Bank, which he has It is considered the allocation of up to 5 % Of the 140 billion euros in bitcoin reserves, it is noted that the Swiss National Bank is in the early stages of thinking about a similar step. These developments can enhance the legitimate bitcoin as an equal value store with traditional asset categories.
Kendrick concluded that “with the improvement of institutional access to bitcoin and low fluctuations, we expect that more governor will turn towards your optimal level from the bitcoin starting point that is less weight.”
At the time of the press, BTC was traded at $ 95,581.
Distinctive image created with Dall.e, Chart from TradingView.com
