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Standard Chartered predicts Bitcoin could exceed its $120,000 Q2 target sooner than expected, driven by strong institutional inflows and sovereign adoption. The bank’s digital assets research head, Geoffrey Kendrick, highlights a shift in Bitcoin’s narrative from a risk asset to a strategic reserve.
- Bitcoin’s price rally is now driven by institutional ETF inflows ($5.3B in 3 weeks) rather than speculation.
- MicroStrategy plans to raise $84B to increase its Bitcoin holdings, potentially owning 6% of total supply.
- US states like Arizona and New Hampshire are passing Bitcoin reserve laws, signaling growing state-level adoption.
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