Bitcoin on Track to Hit $500K as Government Entities Increase MSTR Holdings: Standard Chartered

BitcoinThe price remains on the way to reach half a million dollars before Donald Trump’s current term of office is over after the Government’s entities have increased the indirect exposure to Bitcoin in the first quarter, according to Geoff Kendrick, the global chief of research by digital assets in the Chartered Standard,

Whether it was a national pension service of South Korea, a Swiss National Bank or US State Pension Funds, a recent share of government entities – which owns about 576,000 bitcoins – “It was very encouraging,” Kendrick wrote on Tuesday. This group also included Swedish pension funds, a state bank in France and Saudi Central Bank.

In the first quarter of 12 government entities, exposure to the strategy increased, holding 31,000 shares worth 31,000, he added.

Although investors can obtain exposure to Bitcoin through funds traded on the video, which were approved in the US last year, the increased strategy of government entities reflect “increasing structural demand” for continuous use of Bitcoin and Strategy as proxy Bitcoin, Kendrick wrote.

“We believe that in some cases, the Mrstr share of government entities reflects the desire to obtain exposure to Bitcoin where local regulations do not allow direct BTC stakes,” he added.

Analysts in British multinational bank believe This price of Bitcoin will reach $ 500,000 before Trump’s second term ended in early 2029. This goal is based on understanding that Trump’s administration, through the abolition Sab 121 and initiatives like his Strategic Bitcoin reserveIt will improve access to Bitcoin investors, at the same time encouraging demand.

Each quarterly, institutional investment managers with assets worth over $ 100 million are obliged to reveal their proportions through submission of requests with the Securities Commission. Known as 13F, Kendrick claimed that these applications were the best way to test “our thesis that BTC would attract new institutional types of customers that the market matures.”

In the United States, state pension funds for California, New York, North Carolina and Kentucky increased their strategy for Equivalent 1,000 Bitcoin, Kendrick said. Each share in the strategy is 0.0018 bitcoin by diluted share, Tracking strategy.

The exposure of Sovereigna Bitcoin through the Spot ETF “disappointed at first glance,” Kendrick noted, pointing to the overall decline of their direct share. The State of the Wisconsin Investment Committee, which held an equivalent of 3,400 bitcoin via ETF, sold all its stakes.

Mubadala Investment Company, a Sovereign Wealth Fund for the Government of Abu Dhabija, confirmed Standard Chartered thesis when Bitcoin supplies began last year. In the first quarter, his exposure to Bitcoin increased to 5000 bitcoin, with 4,700 bitcoins, not too long ago.

Edited by James Rubin