Standard Chartered’s Geoffrey Kendrick says Bitcoin’s dual role could drive it to $200K by year-end. The company believes it could climb as high as $500,000 by 2028.
Kendrick is the Global Head of Digital Assets Research of Standard Chartered. He notes that Bitcoin’s recent trading mirrors high-volatility tech giants like Nvidia and Amazon. Bitcoin has tech-like momentum. But it’s also drawing investors looking for shelter from global financial instability.
Two Roles, One Asset
Bitcoin isn’t just digital gold anymore. According to Kendrick, it now fills two key roles in investor portfolios:
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A hedge against financial shocks – Bitcoin’s value tends to rise when faith in banks or governments is shaken. Think back to the collapse of Silicon Valley Bank in 2023. Bitcoin gained over 40% in a single month as fear rippled through the financial system.
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A tech-like growth play – When markets are calm, Bitcoin behaves more like a growth stock. Standard Chartered even built a “Mag 7B” index, swapping Tesla out of the “Magnificent 7” tech group and adding Bitcoin. The result? Over the past seven years, this new index delivered better returns. It also had lower volatility than the original tech basket.
In short, Bitcoin flexes based on market mood. It’s a chameleon—shielding portfolios during crises and thriving like tech during bull runs.
NEW: STANDARD CHARTERED REPORT CLAIMS $BTC IS REGAINING ATTENTION AS A HEDGE AGAINST SYSTEMIC RISK, AS CONCERNS MOUNT OVER THE INDEPENDENCE OF THE U.S. FED pic.twitter.com/cRcAzbvN4E
— DEGEN NEWS (@DegenerateNews) April 22, 2025
Signals from the Market
Kendrick also flagged an unusual signal: the U.S. 10-year Treasury term premium is at its highest in 12 years. That’s a sign investors are nervous about long-term debt and political uncertainty, especially with talk of Fed Chair Jerome Powell potentially being replaced.
“Bitcoin benefits from both government risk and tech-sector strength,” Kendrick wrote in a note this week. And it’s not just theory—recent action in the crypto markets supports his thesis. As China imposed new tariffs this month, Bitcoin briefly spiked while traditional equities wobbled.
Investors are watching closely. Many now see Bitcoin not as a fringe asset, but as a tool to manage both risk and reward.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers, and their risk tolerance may differ from yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
