Standard Chartered’s Head of Digital Asset Research, Geoffrey Kendrick, publicly apologized for his previous Bitcoin price prediction being considered too low. In a recent report to clients, Kendrick admitted that the target price of USD 120,000 or around Rp1.98 billion for the second quarter of 2025 seemed too conservative. He stated, “I apologize that my Q2 target of USD 120,000 may have been too low.”
Kendrick attributed the revision of his projections to the increased institutional interest and significant inflows into Bitcoin ETFs traded in the US. Over the past three days, Bitcoin ETFs in the US have recorded inflows of USD 5.3 billion, surpassing short positions from hedge funds, which only increased by USD 1.2 billion. This significant difference indicates a growing demand for Bitcoin from large investors.
Furthermore, Kendrick highlighted how major companies like Strategy continue to buy Bitcoin in large amounts, even amid global economic uncertainty. This has led to an estimated net inflow of over USD 4 billion into Bitcoin, signaling very positive market sentiment.
Previously, Kendrick boldly predicted that the price of Bitcoin could reach USD 200,000 by the end of 2025, and potentially hit USD 500,000 by 2038 if the trend continues. Currently, Bitcoin’s price has surpassed USD 100,000, reflecting a strong recovery since its lowest point in April around USD 76,000.
In addition, Standard Chartered projected that the stablecoin market value could reach USD 2 trillion in the next three years, as the adoption and regulation of digital assets become more widespread. The bank believes that US government regulations on stablecoins and crypto will play a crucial role in bridging digital assets with the traditional financial system in a more integrated manner.
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