Bitcoin on Track to Hit $500K as Government Entities Increase MSTR Holdings: Standard Chartered
Bitcoin's price is projected to reach $500,000 before the end of Donald Trump's current term, driven by increased indirect exposure from government entities. In the first quarter, 12 government entities, including South Korea’s National Pension Service and the Swiss National Bank, raised their holdings in Strategy, which owns approximately 576,000 Bitcoin. These entities collectively held 31,000 Bitcoin worth of Strategy shares. The rise in Strategy holdings indicates growing structural demand for Bitcoin, particularly where direct BTC holdings are restricted. Analysts at Standard Chartered believe that regulatory changes under Trump will enhance investor access to Bitcoin. U.S. state retirement funds in California, New York, North Carolina, and Kentucky increased their Strategy holdings by around 1,000 Bitcoin. However, sovereign exposure through spot ETFs has been disappointing, with some entities like the State of Wisconsin Investment Board liquidating their Bitcoin ETF holdings. Conversely, Mubadala Investment Company increased its Bitcoin exposure to 5,000 from 4,700 Bitcoin.
