Bitcoin Projected to Hit $500,000 as Government Entities Increase Holdings
- Standard Chartered predicts Bitcoin will reach $500,000 within three-and-a-half years.
- 12 government entities increased their exposure to Strategy in the first quarter.
- Strategy holds approximately 576,000 Bitcoin.
- Government entities collectively hold shares equivalent to 31,000 Bitcoin through Strategy.
- Mubadala Investment Company increased its Bitcoin holdings from 4,700 to 5,000 Bitcoin.
Geoff Kendrick of Standard Chartered notes that increased government entity investments in Strategy indicate growing structural demand for Bitcoin. The bank forecasts a significant price rise before the end of Donald Trump’s current term.
Source (2.6)https://decrypt.co/321077/bitcoin-on-track-hit-500k-as-government-entities-increase-mstr-holdings-standard-chartered?rand=52368
