Standard Chartered’s Digital Asset Research Head, Geoffrey Kendrick, publicly apologized for his previous Bitcoin price prediction being deemed too low. In a recent report to clients, Kendrick acknowledged that his target price of USD 120,000 or around Rp1.98 billion for the second quarter of 2025 seemed too conservative.
“I apologize that my Q2 target of USD 120,000 may have been too low,” Kendrick stated in his notes, as quoted from Yahoo Finance. He cited the increased institutional interest and significant inflow into Bitcoin ETFs traded in the US as the main reasons for his projection change.
In the last three days, Bitcoin ETFs in the US recorded an inflow of USD 5.3 billion, far surpassing hedge fund short positions that only rose by USD 1.2 billion. The significant difference between these inflows indicates a growing demand for Bitcoin from large investors.
Kendrick also 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 into Bitcoin of over USD 4 billion, signaling a very positive market sentiment.
Previously, Kendrick boldly predicted that the price of Bitcoin could reach USD 200,000 by the end of 2025 and even potentially touch USD 500,000 by 2038 if the trend continues. Currently, the price of Bitcoin has exceeded USD 100,000, reflecting a strong recovery since its low point in April around USD 76,000.
In April, Standard Chartered also estimated that the stablecoin market value could reach USD 2 trillion in the next three years, with the increasing adoption and regulation of digital assets. The bank believes that US government regulations on stablecoins and crypto will be crucial in connecting digital assets more seamlessly with the traditional financial system.
Disclaimer: All investment decisions are up to the readers. Conduct thorough research and analysis before buying and selling Crypto. Liputan6.com is not responsible for the profits and losses resulting from investment decisions.
