Posted 1/8/2024, 11:15:27 PM
Standard Chartered Forecasts $200K Bitcoin by 2025 on Expected Bitcoin ETF Approvals
- Standard Chartered Bank predicts Bitcoin could reach $200,000 by end of 2025, citing potential Bitcoin ETF approvals driving significant inflows
- Bitcoin ETFs give investors exposure to Bitcoin price without needing to buy/store it; several major firms have Bitcoin ETFs awaiting SEC approval
- Analyst says 2025 prediction consistent with bank's prior $100k Bitcoin price forecast for end of 2024
- Bloomberg analyst Eric Balchunas estimates a Bitcoin ETF could see $10 billion inflows in year one, $30-50 billion over 3 years
- Balchunas puts odds of SEC approving a Bitcoin ETF in January 2023 at 95%