Standard Chartered Isn’t Backing Down: Bitcoin Still Aiming for $200K

Despite the market noise, Standard Chartered is sticking to its guns: Bitcoin’s headed to $200,000 by the end of 2025.

Geoffrey Kendrick, who leads digital asset research at the bank, says Bitcoin’s core value as a hedge against financial system risk is only getting stronger. Private sector shocks, like Silicon Valley Bank’s collapse, and government risks — like pressure on Fed independence — are both pushing investors toward decentralized assets.

Kendrick points out that the U.S. 10-year Treasury term premium just hit a 12-year high, signaling serious jitters around government credibility. Since early 2024, Bitcoin has shown a strong link to that risk metric — even if it’s been a little slow to catch up lately, thanks to worries about tech stocks and tariffs.

Bottom line? As long as the Fed's future remains uncertain, Bitcoin’s setup looks increasingly bullish. Kendrick isn’t changing his longer-term view either: he’s still calling for $500,000 by 2028 as Bitcoin’s role in portfolios evolves from speculative play to systemic safety net.