Trump's China Gambit Revives Standard Chartered's Bitcoin $500K Thesis
Standard Chartered's $500K Bitcoin thesis has gained renewed attention following President Trump's recent comments on digital assets. At a White House event, Trump argued that ceding ground in cryptocurrencies would give China a strategic advantage, implying that supporting crypto is crucial for American financial primacy.
This shift in focus has put the spotlight back on Standard Chartered's research, which predicts Bitcoin will reach $500K before President Trump leaves office. Global Head of Digital Assets Research Geoffrey Kendrick made this forecast during a February 2025 appearance on CNBC, although the 2025 target was significantly missed, with Bitcoin's all-time high reaching only $126,198.
Subsequent research from Standard Chartered revised their 2026 year-end target downward to $100K in early 2026. However, Kendrick and his team have maintained their long-term $500K target throughout 2026, citing the anticipated adoption of Bitcoin by sovereign wealth funds and state pension funds as a key driver.
Standard Chartered's updated rationale hinges on the expected growth of institutional investors and the bank's broader bullish stance on digital assets. The firm believes that its Bitcoin thesis is part of a systematic view on cryptocurrency adoption, rather than an isolated prediction.