- Bitcoin could reach $200,000 by 2025 due to ETF inflows, inflation, and SAB-121 repeal.
- Geoff Kendrick expects regulatory shifts, including changes at the SEC, could favor crypto growth.
- 73% of U.S. voters say crypto policies will influence their vote in the 2024 election.
Standard Chartered’s global head of digital assets research, Geoff Kendrick, anticipates Bitcoin could soar to $200,000 by the end of 2025. According to Kendrick, key drivers include potential positive shifts in U.S. regulation, such as the repeal of Staff Accounting Bulletin 121 (SAB-121), expected inflation upticks, and increasing Bitcoin ETF inflows.
SAB-121 currently prevents banks from holding digital assets for clients, but Kendrick believes this regulation is likely to be rolled back, no matter who wins the 2024 U.S. presidential election. He suggests that a change in leadership at the Securities and Exchange Commission (SEC) could also fuel significant growth for the crypto market, particularly as SEC Chair Gary Gensler’s stance has been widely viewed as unfavorable for the industry.
Bitcoin ETF Inflows and Inflation Impact
Kendrick highlights the positive macroeconomic trends that could also support Bitcoin’s rise, noting that long-term yields are now surpassing short-term yields, signaling optimism in the financial markets. Additionally, he points out the potential for new ETFs, predicting that Solana could be among the next assets to see institutional support.
He projects Bitcoin will likely hit $125,000 by the end of 2024 if former President Trump is elected, but expects the cryptocurrency to climb to $200,000 by 2025, regardless of the political outcome.
Crypto Policy Plays Key Role in U.S. Election
As the 2024 U.S. presidential election approaches, crypto political action committees (PACs) are pouring millions into campaigns. A recent Gemini poll found that 73% of U.S. voters indicated that crypto policy would influence their vote, marking the first time that digital assets have played such a prominent role in a national election.
