Standard Chartered Bank: MicroStrategy's Bitcoin purchases next year may exceed those of 2024

Odaily Planet Daily News: Geoffrey Kendrick of Standard Chartered Bank predicts that the price of Bitcoin will double. The head of digital asset research at Standard Chartered Bank stated in a report earlier this month that he expects Bitcoin to reach $200000 by the end of 2025. Standard Chartered Bank predicts that institutional investment in Bitcoin will "continue to maintain or exceed the pace of 2024" next year. The bank pointed out that since the beginning of this year, institutional Bitcoin purchases have reached 683000 bitcoins, mainly through US spot Bitcoin ETFs and software companies investing in MicroStrategy, an effective alternative to Bitcoin. Kendrick stated that MicroStrategy's Bitcoin purchase volume next year should "reach or exceed the purchase volume of 2024". He also added that due to the upcoming Trump administration's expectation to reform regulations on digital currency investments by so-called "traditional finance" (TradFi) companies, pension funds should also include Bitcoin in their investment portfolios through US spot Bitcoin ETFs starting next year. Kendrick pointed out, "Even a small allocation of $40 trillion in US retirement funds would significantly push up the price of Bitcoin. If Bitcoin is adopted faster by US retirement funds, global sovereign wealth funds (SWFs), or potential US strategic reserve funds, we will be more optimistic （CNBC）