TechFlow reports on March 3, according to The Block, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, said that Trump's announced cryptocurrency strategic reserve plan provides long-term stability for Bitcoin, bringing renewed attention to his previously forecast target of $500,000.
Kendrick stated in an investor report: "We have shifted from selling the rally to buying the dip, so I am refocusing on our $500,000 Bitcoin target." He predicts Bitcoin will reach $200,000 by the end of 2025, $300,000 by the end of 2026, $400,000 by the end of 2027, and $500,000 by the end of 2028, potentially holding that level through the end of 2029.
Kendrick also emphasized the strategic significance of Trump's crypto reserve proposal, suggesting it could encourage U.S. states to develop their own Bitcoin reserve programs, potentially collectively holding an amount comparable to the federal government (approximately 200,000 BTC). He stated, "Trump's announcement of a crypto reserve eliminates the possibility of a 'bad outcome,' creating room for the crypto market to begin moving higher."
