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Jeffrey Kendrick, head of Standard Chartered Digital Assets Research, believes that the route to reach $ 500,000 of Bitcoin before the office of President Donald Trump depends on long -term investment from the state pension fund.
In a research note on Tuesday, Kendrick highlighted that the state pension funds are currently responsible for just 1% of Bitcoin ETF holdings. He hopes that this number will increase as an expansion of institutional partnership.
Bitcoin growth increased to $ 500,000
Analyzing the 13F filing of the fourth quarter, Kendrick said that hedge funds dominate bitcoin investment, with Brevan Howard buy equal to 14,500 BTC in Q4.
Banks such as Goldman Sachs also increased their holdings, while sovereign money funds, including Abu Dhabi’s State Fund, entered the market with 4,700 BTC-Material status in Blackrock’s ETF.
The cancellation of sab 121, which was earlier prohibited from keeping digital assets, is expected to adopt institutional.
Additionally, Kendrick believes that sovereign money funds will increase their risk, inspired by the growing bitcoin reserves of the US government.
To reach $ 500,000 for bitcoins, extensive institutional participation is necessary, especially from the State Pension Fund.
Kendrick argues that pension money provides long -term, stable capital, reduces instability and supports the maturity of bitcoin as an institutional property.
Bitcoin adoption in 2025
Kendrick hopes that Bitcoin accumulation will be continued by the Q1 2025 by banks and sovereign wealth funds.
Due to the mature of the bitcoin market, Kendrick estimates a comprehensive investor base.
He estimates that reducing regulatory obstacles and increasing global adoption will help in this change.
Initially, retail traders dominated, followed by the hedge funds in the initial ETF stage, the market is now looking at interest from sovereign institutions.
Looking forward, Kandrick hopes that the state pension funds will enter space. He also notes that the central bank cites the ideas of Bitcoin investments of the initial stage of € 140 billion, citing the possible bitcoin allocation of the possible bitcoin of the Czech Czech Czech National Bank.
With improving institutional access and a decline in instability, Kandrick moved more portfolio from an underweight position to its optimal bitcoin exposure.
Spot ETF procurement to 499,000 BTC with 2024, by depositing 257,000 BTCs to microstrate, predicts even more institutional demand in 2025.
The entry of state pension funds can mark a twist point, infection from an alternative property to a main component of diverse institutional portfolio.
Bitcoin price today
The price of bitcoin continued to struggle on Tuesday. In the last 24 hours this coin was below 2%, which was to trade at ₹ ₹ $ 94,152.43.
The 24-hour of bitcoin is 96,730 and $ 94,080.29.
The price of bitcoin is a range-bound between $ 94,000 and $ 100,000 for about two weeks, indicating a period of consolidation.
The Global Cripto Market Cap has fallen to $ 3.09 trillion, marking the decline of 2.81% in the last 24 hours.
Since the previous day, the dominance of bitcoin market has increased by 60.44%, which is 0.79%.
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