After President Trump's announcement regarding Bitcoin's inclusion in the national strategic crypto reserve, Standard Chartered's Geoff Kendrick emphasized his bullish stance, revisiting a $500,000 target for Bitcoin. Kendrick expects Bitcoin to reach $200,000 by the end of 2025 and suggests potential further increases in subsequent years. He noted that Trump's support for Bitcoin could inspire states to build their own reserves, paralleling the federal initiative, which VanEck's Matthew Sigel predicts could lead to significant Bitcoin purchases across various states – totaling over 242,787 BTC.
"We have moved from selling rallies to buying dips, and hence I re-focus on my $500,000 bitcoin target... We continue to target Bitcoin to reach $200,000 by year-end 2025."
"Kendrick further discussed that Trump's embrace of Bitcoin in a strategic reserve could fuel individual states to also adopt bitcoin reserves of their own, potentially matching the federal government's holdings."
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