Standard Chartered, one of the world's leading international banks, has made a bold prediction about the future price of Bitcoin. In an interview, Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, revealed that he expects the price of Bitcoin to reach $500,000 by 2030.
This prediction is based on the bank's analysis of the limited supply of Bitcoin and the growing demand from institutional investors. According to Kendrick, the scarcity of Bitcoin will be met with increasing demand from institutions, driving up its price. He also noted that if Bitcoin were to match the market capitalization of gold, its price per coin could reach $1.6 million.
The bank's previous predictions have been met with a mix of optimism and skepticism from the crypto market. However, Kendrick's latest prediction has sparked renewed interest in Bitcoin, with its price rising by 100 basis points to around $67,500. The bank's involvement in the crypto market has also added to the growing confidence of investors.