Geoffrey Kendrick, Global Khartered’s Global of Digital Assets Research, confirmed his outstanding price forecast for Bitcoin. Kendrick, which predicts that BTC will reach USD 500,000 by 2028, bases its condemnation to evidence of an boost in institutional involvement-in particular, pointing to sovereign property funds, state pension funds and other large-scale investors.

Sovereign wealth funds go to bitcoins

According to the fresh Standard Chartered report quoted Through the Kendrick block, he sees the growing signs that investment vehicles supported by the government are increasing interest in bitcoins. This view is strengthened by the recent disclosure by Abu Dhabi as a 4700 BTC equivalent equivalent in Blackrock’s Ishares Bitcoin Trust (IBIT) through his sovereign financial fund.

“Although it is small for now, we would expect that the size will increase over time and indeed, that other sovereigns will also start buying,” wrote Kendrick in Tuesday’s report. He explained that the Abu Dhabi Movement means a strategic change and can present a wider share of other property funds who want to diversify their portfolios using BTC.

Kendrick’s trust is partly rooted in documents from the 13F form – quarterly reports that institutional managers supervising the assets of at least $ 100 million are required to submit from the American Commission of Securities and Exchange. Looking through the data from the fourth quarter of 2024, Kendrick noticed a convincing trend.

“Applications of 13F regarding Q4 show that the trial is in progress … it happens,” he said to the block. In the analysis of the Standard Khartered Data Q4 revealed that although hedge funds maintained their advantage in Bitcoin purchases, banks – which began to buy in the third quarter of last year – they also increased their positions.

Kendrick has developed similarities between the earlier stage of the Bitcoin market evolution, dominated by retail investors, and a newer era in which hedge funds jumped on funds from stock market transactions (ETFS). Now it seems that the headlight is expanding, including state investment managers and central banks.

“It gives us a consolation that even if buying according to a strategy … [formerly MicroStrategy] It slows down dramatically (he bought stunning 227,000 BTC since the US election, over 1% of supply in a constantly existing one), we think that other buyers are waiting to enter, “Kendrick said.

The mention of Microstrategy emphasizes how significant the shares of one private company can be. However, the Khartered standard analysis suggests that other vast, capital pool patients can absorb future supply, which supports higher prices in the long term.

Among the institutions, Kendrick emphasizes the state of Wisconsin Investment Board and the Michigan Treasury Department. However, he also points to central banks as potential fresh participants.

In the Kendrick report, he refers to the Czech National Bank, which he has considered to be assigned up to 5% From 40 billion euros of Bitcoin reserves and notes that the Swiss National Bank is at an early stage of considering a similar traffic. These changes can further strengthen Bitcoin ID as a magazine on an equal footing with more conventional asset classes.

“When institutional access to Bitcoins improves and the variability decreases, we expect more wallets to migrate to their optimal level from the underwear of Bitcoins,” said Kendrick.

During the BTC press it traded at USD 95,581.

A distinguished painting created from Dall.e, chart from tradingview.com