Standard Chartered Bank: SEC Data Supports Bitcoin Reaching $500,000 Target by 2028

BlockBeats News, May 20th - Geoff Kendrick of Standard Chartered Bank stated that the recent U.S. Securities and Exchange Commission (SEC) 13F report supporting Bitcoin is expected to rise to $500,000 by the end of 2028. Despite a decrease in direct holdings of Bitcoin ETF shares in the first quarter, government agencies have increased their holdings in Strategy (formerly MicroStrategy), which is seen as an alternative investment tool for Bitcoin. This may reflect efforts by institutions to gain Bitcoin exposure under regulatory constraints.