Standard Chartered predicts Bitcoin could reach $500,000 by early 2029, citing increased institutional and government interest. Analyst Geoff Kendrick notes that 12 government entities, including South Korea’s National Pension Service and the Swiss National Bank, boosted their holdings in Strategy—a firm owning 576,000 Bitcoin—reflecting widening structural demand. While spot ETFs saw mixed adoption, sovereign wealth funds like Abu Dhabi’s Mubadala expanded Bitcoin exposure. Kendrick ties the bullish outlook to potential regulatory shifts under Trump’s administration, including the repeal of SAB 121 and strategic Bitcoin reserves. 13F filings reveal U.S. state pension funds also increased Bitcoin-linked investments, reinforcing institutional confidence.
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NY Fed: Tokenized Assets, Not CBDCs, Shape Finance Future
The Federal Reserve Bank of New York’s Project Pine report concludes that tokenized assets, rather than central bank digital currencies (CBDCs), offer a more viable framework for future monetary policy. The project tested smart contract-based platforms to simulate central bank operations like repurchase agreements and collateral management, using a permissioned Ethereum-compatible system. Key findings include programmable interest accrual, real-time collateral management, and centralized control—contrasting with DeFi’s decentralized ethos. The report positions central banks as infrastructural anchors in a tokenized financial system, focusing on wholesale markets rather than retail CBDCs. With institutional tokenization gaining traction (e.g., BlackRock’s $3B treasury fund), the Fed envisions a hybrid future blending programmability with centralized oversight.
read moreConor McGregor Backs Irish Bitcoin Reserve Plan
Conor McGregor’s endorsement of an Irish Bitcoin strategic reserve has reignited discussions about digital assets in national financial policy. The UFC star framed Bitcoin as a tool for empowering citizens, announcing a Twitter Space to further the debate. A strategic Bitcoin reserve involves holding BTC alongside traditional assets like gold, with proponents citing inflation hedging and diversification benefits. Ireland wouldn’t be the first—El Salvador adopted Bitcoin as legal tender, while other nations like the Czech Republic and Russia explore similar moves. McGregor’s influence could accelerate Ireland’s crypto policy discussions, mirroring recent U.S. state-level developments.
read moreBitcoin May Surpass $120K Sooner Than Expected: StanChart
Standard Chartered’s head of digital assets research, Geoffrey Kendrick, now believes Bitcoin (BTC) could surpass its $120,000 Q2 target earlier than projected, citing mounting institutional inflows and sovereign interest. Kendrick notes that Bitcoin’s rally is increasingly fueled by ETF inflows and long-term institutional buyers rather than speculation. Recent data shows US-listed spot Bitcoin ETFs have absorbed $5.3 billion in three weeks, with net flows likely exceeding $4 billion. Additionally, corporate and sovereign entities, including MicroStrategy and Abu Dhabi’s sovereign wealth fund, are accumulating Bitcoin, while US states like New Hampshire and Arizona are advancing Bitcoin reserve legislation. Kendrick warns that upcoming institutional disclosures could further drive Bitcoin’s upward trajectory.
read moreBitcoin Hits $100K Amid Trade Talks and Fed Decisions
Bitcoin reclaimed the $100,000 mark amid optimism around US-China trade talks and a potential UK trade deal. Standard Chartered analyst Geoff Kendrick projects a $120,000 price target by Q2-end, citing Federal Reserve policy and institutional demand. Spot Bitcoin ETFs saw $142 million in inflows, reflecting growing institutional interest as global investors seek alternatives to USD assets. Market sentiment remains bullish, with the Crypto Fear and Greed Index signaling ‘Greed’ at 65. Analysts link Bitcoin’s rally to easing geopolitical risks and robust ETF inflows, with ARKB leading Wednesday’s gains.
read moreSNB Reports CHF81B Profit, Debates Equity & Risks
The Swiss National Bank (SNB) reported a CHF81 billion profit for 2024, with a net profit of CHF16 billion after provisions. This allowed dividend payments and distributions to the government, though the SNB emphasizes the unpredictability of future earnings due to market risks. The bank stresses that its primary mandate is price stability, not profit generation, and rejects proposals for a sovereign wealth fund, arguing it would hinder monetary policy and increase taxpayer risk. The SNB’s high foreign exchange reserves remain a contentious topic, with the bank insisting on full control to fulfill its mandate effectively.
read moreSNB Expands Liquidity Support with New ELF Framework
The SNB has expanded its liquidity support framework, now offering the Extended Liquidity Facility (ELF) to all Swiss banks, using mortgages and securities as collateral. The ELF simplifies access to liquidity while maintaining strict conditions for larger volumes, such as solvency and sufficient collateral. Additionally, regulatory measures are being implemented to bolster banks’ resilience to liquidity risks, including higher liquidity provisions and a Public Liquidity Backstop. These steps aim to strengthen financial stability and crisis preparedness in Switzerland.
read moreSNB’s Role in Ensuring Price Stability Amid Trade Uncertainty
The Swiss National Bank (SNB) emphasizes the importance of price stability in fostering economic growth and protecting households, especially lower-income groups, from inflation-induced purchasing power losses. In the face of trade policy uncertainties, the SNB’s mandate to ensure stable prices becomes even more critical. The bank’s monetary policy strategy provides a robust framework, enabling decisive action and adaptability to changing conditions. By maintaining price stability, the SNB supports planning security for businesses and households, reinforcing Switzerland’s economic resilience.
read moreSNB Urged to Invest in Bitcoin at Annual Meeting
During the Swiss National Bank’s (SNB) 117th General Assembly, Bitcoin proponent Luzius Meisser advocated for the SNB to allocate part of its reserves to Bitcoin, arguing it offers resilience against dollar crises and aligns with modern portfolio theory. The ‘Bitcoin Initiative,’ launched in December, aims to legally mandate such investments by amending Switzerland’s constitution. SNB President Martin Schlegel rejected the proposal, citing Bitcoin’s volatility and liquidity risks, but Meisser countered with data showing Bitcoin’s liquidity rivals German bonds and its inclusion would have marginally increased portfolio volatility while nearly doubling returns over the past decade. The debate highlights growing institutional interest in Bitcoin as a hedge against traditional financial risks.
read moreSNB Urged to Invest in Bitcoin for Financial Strength
During the Swiss National Bank’s (SNB) annual general assembly, Bitcoin advocate Luzius Meisser presented arguments for the SNB to invest in Bitcoin, citing its resilience and hedge potential against dollar crises. A private initiative aims to amend Switzerland’s constitution to include Bitcoin in the SNB’s reserves, with signature collection ongoing until 2026. Meisser highlighted Bitcoin’s liquidity and low portfolio volatility impact, while SNB Chairman Martin Schlegel countered with concerns over price volatility and market liquidity. The initiative committee refuted these claims, pointing to Bitcoin’s trading volume and potential portfolio benefits, including nearly doubled value gains over a decade with a 1% Bitcoin allocation.
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