Here’s another refined rewrite with a smoother flow and slightly more concise tone:
Standard Chartered’s Geoffrey Kendrick is still backing his long-term Bitcoin forecast of $500,000 before Donald Trump leaves office, even as BTC trades slightly above $64,000—about 49% below its October 2025 all-time high of $126,198.
The wide gap between today’s price and that target is notable, but the more important question is whether the underlying thesis remains intact, especially after the bank missed its previous $200,000 prediction for 2025.
Trump’s renewed support for Bitcoin, voiced during a July 6 White House event, has brought fresh attention to Standard Chartered’s outlook. He framed his stance around geopolitics, warning that failing to compete in digital assets could leave the U.S. at a disadvantage.
Emphasizing Bitcoin’s influence, Trump argued that its capital flows are not fully understood and made it clear that if the U.S. does not embrace it, China will. This positioning elevates Bitcoin from a financial asset to a strategic priority, giving the pro-crypto narrative stronger policy backing.
China’s approach adds context to this argument. The country has enforced strict bans on crypto trading and mining since 2021 while pushing forward with its own central bank digital currency. In that light, Trump’s comments frame Bitcoin adoption as part of a broader competition for technological and financial leadership.
This geopolitical angle aligns closely with Standard Chartered’s bullish case. The bank’s outlook depends on clearer regulation under a supportive administration and increasing institutional access through spot Bitcoin ETFs—factors seen as long-term structural drivers rather than short-term catalysts.
Kendrick, the bank’s Head of Digital Assets Research, first introduced the $500,000 target in early 2025, tying it to expected regulatory tailwinds. At the time, he also projected Bitcoin could reach $200,000 within the year.
That target ultimately fell short, with Bitcoin peaking at $126,198 before retreating. Despite this, Standard Chartered has not revised its longer-term forecast, continuing to point to institutional inflows, sovereign adoption, and Bitcoin’s fixed supply as key pillars supporting future growth.
For now, $500,000 remains the bank’s stated objective within Trump’s term. However, with Bitcoin still trading near $64,000 amid ongoing macro and geopolitical pressures, the distance to that level remains significant. Short-term price action will likely serve as the first test of whether the broader thesis begins to play out.
Not all analysts are convinced. Some favor a more conservative outlook, placing Bitcoin in the low-to-mid six-figure range over time, while also warning that further downside could occur before any sustained recovery takes hold.
