Standard Chartered is holding firm on its bold Bitcoin forecast: $500,000 per coin by the end of this decade. The Standard Chartered Bitcoin prediction is not just a headline grabber, it’s backed by trends in ETFs, equities, and sovereign funds. It might sound far-fetched at first glance, but the bank says there’s a growing reason to take that target seriously, governments, whether directly or not, are starting to get exposure to Bitcoin. And they’re doing it in a surprisingly quiet and indirect way.
Governments Are Buying Bitcoin, Just Not the Way You Think
According to a recent note from the bank’s digital assets team, sovereign wealth funds and state-run institutions aren’t rushing to open crypto wallets. Instead, they’re buying shares in companies that already hold massive amounts of Bitcoin.
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Standard Chartered says SEC 13F fillings support #Bitcoin reaching $500,000 by 2028
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MicroStrategy, the software firm known for its aggressive Bitcoin strategy, is the centerpiece of this approach. It currently holds over 214,000 BTC, and its stock has become a kind of proxy investment for those who want Bitcoin exposure without actually holding it. In Q1, France and Saudi Arabia reportedly opened positions in MicroStrategy, while public funds from Norway, Switzerland, and South Korea also added shares, indirectly tying themselves to the value of Bitcoin.
In the United States, pension funds in New York and California followed a similar route, gaining exposure to around 1,000 BTC worth of MicroStrategy shares.
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Why Indirect Exposure Makes Sense
Not every country is in a position to hold crypto directly. Whether it’s legal red tape, political pressure, or just general caution, many governments are still wary of owning Bitcoin outright. But buying into a company that already holds it? That’s much simpler.
It avoids the custody headaches, the volatility risks that come with direct ownership, and the public scrutiny that might come from suddenly declaring, “Hey, we’re holding Bitcoin now.” Instead, they quietly build exposure through equity and keep their options open.
That said, not everyone is staying in. The Wisconsin state pension fund recently exited its position in BlackRock’s iShares Bitcoin Trust, giving up exposure equivalent to 3,400 BTC. Meanwhile, Abu Dhabi’s Mubadala is doing the opposite, adding more and increasing its exposure to roughly 5,000 BTC through the same ETF.
A Bigger Trend Is Taking Shape
Geoffrey Kendrick, Standard Chartered’s global head of digital assets research, says we’re watching a shift in how institutions think about Bitcoin. According to him, portfolios that once ignored BTC completely are slowly warming up to it. And as volatility drops and access improves, those underweight positions will likely increase.
This isn’t Kendrick’s first bullish call. In April, he raised his end-of-2025 Bitcoin target to $200,000 after noting major inflows into spot ETFs. That kind of activity, in his view, shows that Bitcoin is maturing from a speculative asset into something that serious institutions are learning to trust, at least a little.
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$500K Still Sounds Wild, But Maybe Not That Wild
Standard Chartered’s price target isn’t a short-term moonshot. It’s a long-range view based on how much more demand could come in if these trends keep building. With governments now finding safe, indirect ways to participate, the groundwork is slowly being laid.
Whether or not you believe in the number, the Standard Chartered Bitcoin prediction is shaping the conversation around long-term crypto value. A half-million-dollar Bitcoin might still seem ambitious, but if the world’s largest institutions keep inching toward it, that number might not be so crazy after all.
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Key Takeaways
- Standard Chartered is sticking with its $500,000 Bitcoin price target for 2029, citing growing institutional and government-linked exposure.
- Governments are gaining Bitcoin exposure indirectly by investing in companies like MicroStrategy, which holds over 214,000 BTC.
- Indirect exposure avoids legal and political hurdles, allowing sovereign funds and pension funds to quietly participate in Bitcoin’s upside.
- Major funds from France, Saudi Arabia, Norway, and South Korea have bought into MicroStrategy, while others use ETFs like BlackRock’s IBIT.
- Standard Chartered sees this slow, steady adoption by institutions as a foundation for long-term Bitcoin growth, possibly hitting $500K by 2029.
The post Bitcoin to $500K? Standard Chartered Says It’s Possible by 2029 appeared first on 99Bitcoins.
