Kendrick stated that the factors behind BTC’s rally are aligning as expected.

“With Bitcoin printing in a predicted all-time high, it is time to take stock and see which of our predicted drivers is working. Short answer – everything is working,” Kendrick wrote.

Earlier this week, the Standard Chartered strategist reaffirmed his bold $500,000 Bitcoin price target, which he expects could be reached during President Donald Trump’s current term. His thesis hinges on a combination of macro trends, institutional flows, and political tailwinds.

Kendrick pointed to recent 13F filings with the U.S. Securities and Exchange Commission (SEC), which show a surge in institutional and sovereign investment into Bitcoin—primarily through proxy assets like MicroStrategy (MSTR). He noted that this accumulation trend appears to have accelerated in Q2 2025, reinforcing confidence in long-term adoption.

The convergence of spot ETF approvals, growing balance sheet exposure by traditional asset managers, and clearer regulatory direction under a crypto-friendly White House has created what Kendrick views as a near-perfect environment for Bitcoin to reach new heights.

With Bitcoin already setting new records in 2025 and capital inflows broadening, Standard Chartered’s projection of $500,000 per BTC is gaining fresh attention from both Wall Street and the crypto industry.

The post Standard Chartered: Bitcoin Still on Track for $500,000 appeared first on Coindoo.

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Filed under: Bitcoin - @ May 22, 2025 5:01 pm