According to Standard Chartered, Bitcoin could reach $500,000 by 2028, driven by reduced volatility and greater investor access through spot bitcoin ETFs, positioning it as a hedge against traditional financial system risks.

Geoffrey Kendrick, the global head of digital assets research at Standard Chartered, noted that as the U.S. ETF market matures, Bitcoin’s volatility is expected to decrease. This trend, combined with increasing institutional inflows into spot bitcoin ETFs, will improve access to the cryptocurrency and elevate its role in a two-asset portfolio that includes gold. This shift is expected to drive Bitcoin’s value higher as the portfolio moves toward an optimized and logical allocation, pushing Bitcoin’s price toward $500,000 by the end of the Trump administration.

The bank has set a 2025 price target of $200,000 for Bitcoin and a 2026 target of $300,000.

At present, Bitcoin is trading around $98,000, and the bitcoin-to-gold ratio recently hit its lowest level since mid-November. This decline comes as gold prices have surged, driven by concerns over the U.S.-China trade war and growing demand from China.