Standard Chartered says Bitcoin could reach $200,000 by December 2025.
As the financial world awaits when and which Bitcoin spot ETF applications will be approved in the U.S., Standard Chartered Bank on Monday released a forecast predicting the price of Bitcoin will reach $200,000 by the end of 2025.
“If ETF-related inflows materialize as expected, we believe a level close to $200,000 by the end of 2025 is possible,” Jeffrey Kendrick, head of financial research at Standard Chartered Bank, said in a note to investors.
Bitcoin ETFs are designed to track the current price of Bitcoin and the price movements of the cryptocurrency, allowing investors to gain exposure to the digital asset itself without having to purchase and store it. Bitcoin ETFs are managed by investment companies that own Bitcoin.
BlackRock, Grayscale, Ark, iShares, Bitwise, VanEck, Wisdomtree, Invesco, Fidelity, and Franklin have ETFs in the process of final approval.
Kendrick said the 2025 forecast is consistent with previous estimates of $100,000 by the end of 2024.
BREAKING NEWS Global banking giant Standard Chartered says $50-$100 billion could flow into #Bitcoin ETFs in 2024. pic.twitter.com/yQobJcs6EA — Bitcoin Archive (@BTC_Archive) January 8, 2024
“ETF acceptance is a key factor in the rise in BTC price,” Kendrick said. “We see this as a watershed moment in normalizing the participation of institutional funds in Bitcoin and expect this approval to result in significant inflows and price appreciation for BTC.”
Kendrick’s comments echoed Eric Balchunas, a senior ETF analyst at Bloomberg who said on Thursday that a Bitcoin ETF could reach $100 million within 10 years.
“Billion dollars represents a solid start to the year for all sectors, but we expect it will probably be $10 billion in the first year,” Balchunas said.
“What’s difficult to predict here is the short term. In the medium term, we expect it to be worth $30 billion to $50 billion within three years,” he continued. “Then, probably within five to 10 years, gold will stabilize at around $100 billion.”
On Saturday (6), Balchunas put a 95% chance of the SEC approving a Bitcoin ETF in January in a post about “I would probably choose 5% at this point. But you have to keep a small window open for these things,” Balchunas said.
*Translated by Gustavo Martins with permission from Decrypt.
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