New report from Standard Chartered, waiting for $ 500,000 in Bitcoin!

Lately Bitcoin While the number of institutions adopting increased, Standard Chartered said more dominant asset fund expects Bitcoin to buy Bitcoin.

According to The Block, Standard Chartered In his last report, Abu Dhabi recently evaluated the investment of Blackrock’s Bitcoin ETF and wrote that they expect more state asset funds to enter the Bitcoin market.

Standard Chartered Digital Assets Research Global President Geoffrey KendrickHe said that Bitcoin investments are continuing according to the 13F files offered by institutions and state asset funds.

Kendrick said that when they analyze the 4th quarter data from the 13F files, the data shows that banks made strong Bitcoin purchases and that this has increased institutional interest.

Analyst also added that the data is supportive for estimates that Bitcoin could reach $ 500,000 by 2028.

“Hedge funds dominated the purchases of Bitcoin in the 4th quarter, while BTC purchases of banks were very strong.

More importantly, Abu Dhabi’s sovereign asset fund reported that Blackrock had a position equivalent to 4.7 thousand BTC in IBIT ETF.

Although this is small for Abu Dhabi and Bitcoin for now, we expect BTC investments and size to increase over time. We also expect other state asset funds to start to purchase Bitcoin. ”

Kendrick, as a result of the fact that more institutions will buy Bitcoin stating that the corporate adoption expands and market volatility decreases as the price of BTC to reach $ 500,000 by 2028, he said.

*It is not an investment advice.