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Standard Chartered: MicroStrategy's BTC purchases next year may exceed those in 2024
Odaily Planet Daily News Standard Chartered Bank's Geoffrey Kendrick predicts that the price of BTC will double. The Standard Chartered digital asset research director stated earlier this month in a report that he expects BTC to reach $200,000 by the end of 2025. Standard Chartered Bank expects that institutional investments in BTC will 'continue at or exceed the pace of 2024' next year. The bank notes that institutional BTC purchases have reached 683,000 BTC since the beginning of this year, primarily through the purchase of US spot BTC ETFs and MicroStrategy, a software company that also invests in BTC as an effective alternative. Kendrick said that MicroStrategy's BTC purchases next year should 'reach or exceed the purchases of 2024'. He also added that pension funds should start including BTC in their portfolios through US spot BTC ETFs from next year, as the incoming Trump administration is expected to reform regulations on traditional financial (TradFi) companies' investments in digital currencies. Kendrick pointed out, "Even a small allocation of the $40 trillion in the US retirement funds would significantly boost the price of BTC. We will be more optimistic if BTC is adopted more quickly by US retirement funds, global sovereign wealth funds (SWFs), or potential US strategic reserve funds." (CNBC)