Standard Chartered predicts bitcoin will hit $500,000 in the next three years

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The Trump administration and increased investor access are seen as the main drivers for the price surge.

Currently trading at $98,000, Bitcoin initially passed the $100,000 milestone following Trump’s elections as president.

In office, Trump has established a working group on digital assets that will investigate the development of a relaxed federal regulatory framework for crypto and evaluate the creation of a national digital asset stockpile. Adding further fuel to the fire has been the lifting of accounting restrictions for companies holding cryptocurrencies.

On the institutional front, the introduction of bitcoin exchange traded funds has unleashed pent-up demand, attracting $39 billion of inflows so far.

Kendrick’s bitcoin price trajectory sees $200,000 by the end of 2025, followed by $300,000 by 2026, $400,000 by 2027, and ultimately half a million dollars by 2028, where he expects it to plateau through 2029.

A reduction in volatility would be the spur to attract more interest in the market, Kendrick expects, raising Bitcoin’s attractiveness as part of a two-asset portfolio with gold – which currently has a market cap of $19.3 trillion.

This, says Kendrick “should lead to price appreciation longer-term as the portfolio continues to move towards their optimal/logical state”.