{"id":91730,"date":"2025-03-04T03:53:23","date_gmt":"2025-03-04T03:53:23","guid":{"rendered":"https:\/\/neclink.com\/index.php\/2025\/03\/04\/standard-chartered-bank-re-focuses-on-500000-bitcoin-target-after-trump-crypto-reserve-announcement\/"},"modified":"2025-03-04T03:53:23","modified_gmt":"2025-03-04T03:53:23","slug":"standard-chartered-bank-re-focuses-on-500000-bitcoin-target-after-trump-crypto-reserve-announcement","status":"publish","type":"post","link":"https:\/\/neclink.com\/index.php\/2025\/03\/04\/standard-chartered-bank-re-focuses-on-500000-bitcoin-target-after-trump-crypto-reserve-announcement\/","title":{"rendered":"Standard Chartered Bank Re-focuses On $500,000 Bitcoin Target After Trump Crypto Reserve Announcement"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div data-td-block-uid=\"tdi_61\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p>Just one day after U.S. President Donald Trump announced that Bitcoin is going to \u201cat the heart\u201d of a national strategic crypto reserve, Standard Chartered Bank\u2019s Head of Digital Asset Research Geoff Kendrick stated that he is now re-focusing on his \u201c$500,000 bitcoin price target.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: \ud83c\uddfa\ud83c\uddf8 President Trump says \u201cobviously\u201d Bitcoin will be included in the strategic reserve.<\/p>\n<p>\u201cI also love Bitcoin\u201d <a href=\"https:\/\/t.co\/STPTl3y6Gh\" target=\"_blank\" rel=\"noopener\">pic.twitter.com\/STPTl3y6Gh<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1896239889647292567?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">March 2, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>\u201cWe have moved from selling rallies to buying dips,\u201d Kendrick <a href=\"https:\/\/www.theblock.co\/post\/344179\/standard-chartered-says-trump-crypto-reserve-plan-puts-bitcoin-500000-target-back-in-focus\" target=\"_blank\" rel=\"noopener\">reportedly<\/a> stated in an email. \u201cAnd hence I re-focus on my $500,000 bitcoin target\u2026Given these developments, which align with our previous expectations, we continue to target Bitcoin to reach $200,000 by year-end 2025. Thereafter, we expect Bitcoin to reach $300,000 by the end of 2026, $400,000 by the end of 2027, and $500,000 by the end of 2028, where it will likely remain until the end of 2029.\u201d<\/p>\n<p>Kendrick further discussed that Trump\u2019s embrace of Bitcoin in a strategic reserve could fuel individual states to also adopt bitcoin reserves of their own, and eventually, hold as much bitcoin as the federal government all together.\u00a0<\/p>\n<p>VanEck\u2019s Matthew Sigel also recently put out a recent report on the potential accumulation of bitcoin by individual states, showcasing that if signed into law, the demand from these 20+ strategic bitcoin reserve bills could see states purchase over 242,787 BTC. You can track the status of these bills <a href=\"https:\/\/bitcoinlaws.io\/\" target=\"_blank\" rel=\"noopener\">here on Bitcoin Laws<\/a>.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">NEW: $114 billion VanEck&#8217;s Matthew Sigel says the demand from 20 US Bitcoin Reserve bills could see states buy over 242,787 Bitcoin \ud83d\ude80 <a href=\"https:\/\/t.co\/oBKqSTda4c\" target=\"_blank\" rel=\"noopener\">pic.twitter.com\/oBKqSTda4c<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1889730824074891469?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">February 12, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Trump\u2019s announcement of an official Bitcoin reserve potentially also may fuel support for Senator Cynthia Lummis\u2019 Strategic Reserve Bill, unveiled at the Bitcoin 2024 Conference in Nashville last summer, which would see the U.S. purchase 200,000 bitcoin per year until it has bought 1,000,000 BTC. Lummis has already met with Trump\u2019s new Crypto Czar <a href=\"https:\/\/x.com\/BitcoinMagazine\/status\/1869116001570451479\" target=\"_blank\" rel=\"noopener\">David Sacks<\/a> and Treasury Secretary <a href=\"https:\/\/x.com\/BitcoinMagazine\/status\/1867627186095534508\" target=\"_blank\" rel=\"noopener\">Scott Bessent<\/a> about her Bitcoin reserve bill, and <a href=\"https:\/\/x.com\/BitcoinMagazine\/status\/1882501989348819262\" target=\"_blank\" rel=\"noopener\">said<\/a> in January that \u201cEvery legislator is giving this legislation a serious look. The time is now. The President is a visionary leader and we are ready to get this bill to his desk.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<p>\n<iframe title=\"Cynthia Lummis Unveils Bitcoin Strategic Reserve Bill\" width=\"1200\" height=\"675\" src=\"https:\/\/www.youtube.com\/embed\/_Ou_oxWsCcc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/p>\n<\/figure>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/bitcoinmagazine.com\/news\/standard-chartered-bank-re-focuses-on-500000-bitcoin-target-after-trump-crypto-reserve-announcement\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just one day after U.S. President Donald Trump announced that Bitcoin is going to \u201cat the heart\u201d of a national strategic crypto reserve, Standard Chartered<\/p>\n","protected":false},"author":1,"featured_media":91731,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[151],"tags":[],"class_list":["post-91730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/posts\/91730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/comments?post=91730"}],"version-history":[{"count":0,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/posts\/91730\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/media\/91731"}],"wp:attachment":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/media?parent=91730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/categories?post=91730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/tags?post=91730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}