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Bitcoin’s price is projected to surge to $500,000 by early 2029, driven by increased institutional and government interest. Standard Chartered analyst Geoff Kendrick highlights growing demand as 12 government entities raised their exposure to Bitcoin-linked investments in Q1.
- 12 government entities, including pension funds and central banks, increased Bitcoin exposure via Strategy in Q1.
- Standard Chartered links Bitcoin’s $500K target to Trump-era policies like SAB 121 repeal and strategic reserves.
- Sovereign wealth funds like Abu Dhabi’s Mubadala grew Bitcoin holdings, while some ETFs saw divestment.
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