Latest news with #GeoffreyKendrick
Arabian Post
2 days ago
- Business
- Arabian Post
Standard Chartered Reaffirms $500K Bitcoin Target Amid Institutional Momentum
Bitcoin has surpassed $111,000, marking a significant milestone in its 2025 bull run. Standard Chartered has reiterated its forecast that the cryptocurrency could reach $500,000 before the end of President Donald Trump's second term in January 2029. This projection is underpinned by increasing institutional interest and a shift in investment strategies towards digital assets. Geoffrey Kendrick, Standard Chartered's Global Head of Digital Assets Research, points to the U.S. Securities and Exchange Commission's Form 13F filings as evidence of growing institutional engagement with Bitcoin. These filings reveal that sovereign wealth funds and state-affiliated institutions are acquiring shares in companies like Strategy , which hold substantial Bitcoin reserves. This indirect exposure is seen as a strategic move to gain access to Bitcoin's potential upside while navigating regulatory constraints. The bank's confidence in Bitcoin's trajectory is further bolstered by macroeconomic factors. Diminishing returns on traditional government bonds have prompted investors to seek alternative stores of value. Bitcoin's capped supply of 21 million coins and its growing acceptance as a digital asset make it an attractive option for those looking to hedge against inflation and economic uncertainty. ADVERTISEMENT Standard Chartered's analysis suggests a phased growth pattern for Bitcoin: reaching $200,000 by the end of 2025, $300,000 by the end of 2026, and ultimately $500,000 by the end of 2028. This outlook is supported by the increasing integration of Bitcoin into institutional portfolios and the maturation of the cryptocurrency market. While the bank's projections are optimistic, they are not without caveats. The forecast assumes continued regulatory support, technological advancements, and sustained investor interest. Any significant disruptions in these areas could impact Bitcoin's price trajectory.
Globe and Mail
3 days ago
- Business
- Globe and Mail
1 Top Cryptocurrency to Buy Before It Soars 450%, According to Standard Chartered
Ripple's XRP (CRYPTO: XRP) has had a momentous six months, soaring almost 350% since November. What's more, Standard Chartered thinks it can go even higher. Analyst Geoffrey Kendrick predicts that Ripple will reach $12.50 by the end of 2028 -- that's about a 450% upside from today's price. In the near term, Kendrick thinks XRP can reach $5.50 (more than double the current price of about $2.19) before the end of this year. He cites three major catalysts for growth: Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » The potential approval of a spot XRP exchange-traded fund (ETF) XRP Ledger growth and increased stablecoin transactions Ripple's settlement agreement with the Securities and Exchange Commission (SEC) Read on to learn more about why so many investors are bullish on XRP -- as well as a note of caution. Here's why XRP could soar One of the biggest reasons to be optimistic about XRP is that it's already operational, with uses in financial transactions and money transfers, especially internationally. Cryptocurrency investors can quickly become accustomed to high levels of uncertainty, as many projects don't have a lot of real-world utility. Even Bitcoin, the grandaddy of crypto, has several potential use cases, but it isn't yet clear how it might come into its own. That makes Ripple Labs and XRP a rare patch of (relatively) solid ground. Ripple already has partnerships with a number of banks and institutions, though not all of them use XRP. It says there are more than 1,500 projects, including stablecoins, on its XRP Ledger, a business-focused blockchain. As Kendrick points out, that could be a key driver for growth, especially as stablecoin transaction volumes increase. The U.S. is closer than it's ever been to passing clear legislation that would give a regulatory framework for the burgeoning stablecoin industry. Citigroup 's recently published Digital Dollars report projected that the stablecoin market could grow from $230 billion to between $500 billion and $3.7 trillion by 2030. Not only does Ripple offer a low-cost and easy way to move money, particularly abroad, but it also helps companies and financial institutions that want to integrate blockchain technology into their businesses. That might be through tokenized assets, custodial solutions, or payment support. For example, this month, the Dubai Land Department launched a tokenized real estate project on an XRP Ledger-based platform called Prypco Mint. Ripple Labs is well placed to capitalize on the wider development of blockchain applications. The global blockchain market is predicted to expand to more than $300 billion by 2030, according to That said, profits for Ripple's private shareholders won't necessarily equate to gains for XRP holders. The two are separate, and the company could grow without necessarily increasing the value of the token. The icing on the cake would be SEC approval of a spot XRP ETF. The Standard Chartered note suggested it could lead to $4 billion to $8 billion in inflows in the first year. However, while the current crypto-friendly SEC may well approve the ETF, it hasn't happened yet. In fact, the SEC just kicked the can further down the road, saying it needed more time to consider the proposed WisdomTree XRP Fund. Don't believe the hype I think the Ripple project has potential, but I am not convinced XRP's current market cap of almost $130 billion is warranted. That's not quite double the $70 billion market cap of PayPal, a major processor of payments and financial transactions. Visa, an even bigger payments processors, has a market cap of $688 billion. For context, the secondary private market platform Hiive puts a $15 billion valuation on Ripple Labs. Even with the caveat that it's extremely difficult to put a price on companies before their initial public offerings (IPO), that's a big disconnect. Especially since Ripple Labs owns over 40% of the total XRP. It's true that Ripple has a lot of established projects, and there's serious growth potential. However, there's also a tendency for the speculation to overtake reality. To give you two examples: The SEC and Ripple have said their legal battle is over. But the judge denied their joint settlement motion to reduce Ripple's fine and lift the injunction on institutional sales. We recently saw a flurry of news headlines that Ripple might acquire Circle, the company behind the stablecoin USDC. This week, Circle denied them and announced an IPO. A lot of the good news is already priced in Standard Chartered projects XRP can grow considerably in just a few years, even overtaking Ethereum. Ripple and XRP are certainly a solid blockchain play, with tried and tested real-world use cases. But given that a lot of the good news is already priced in, that looks optimistic. If you're looking to invest in the payment industry, consider companies like PayPal, Visa, or Mastercard. And if you want to put a small amount of crypto in your portfolio to hold for the long term, take a closer look at Bitcoin. Should you invest $1,000 in XRP right now? Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,049!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $828,224!* Now, it's worth noting Stock Advisor 's total average return is979% — a market-crushing outperformance compared to171%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Citigroup is an advertising partner of Motley Fool Money. Emma Newbery has positions in Ethereum. The Motley Fool has positions in and recommends Bitcoin, Ethereum, Mastercard, PayPal, Visa, and XRP. The Motley Fool recommends the following options: long January 2027 $42.50 calls on PayPal and short June 2025 $77.50 calls on PayPal. The Motley Fool has a disclosure policy.
Yahoo
3 days ago
- Business
- Yahoo
1 Top Cryptocurrency to Buy Before It Soars 450%, According to Standard Chartered
Standard Chartered predicts XRP could reach $12.50 in 2028. Analysts are optimistic about the approval of a spot XRP ETF. Significant stablecoin growth could also boost XRP. 10 stocks we like better than XRP › Ripple's XRP (CRYPTO: XRP) has had a momentous six months, soaring almost 350% since November. What's more, Standard Chartered thinks it can go even higher. Analyst Geoffrey Kendrick predicts that Ripple will reach $12.50 by the end of 2028 -- that's about a 450% upside from today's price. In the near term, Kendrick thinks XRP can reach $5.50 (more than double the current price of about $2.19) before the end of this year. He cites three major catalysts for growth: The potential approval of a spot XRP exchange-traded fund (ETF) XRP Ledger growth and increased stablecoin transactions Ripple's settlement agreement with the Securities and Exchange Commission (SEC) Read on to learn more about why so many investors are bullish on XRP -- as well as a note of caution. One of the biggest reasons to be optimistic about XRP is that it's already operational, with uses in financial transactions and money transfers, especially internationally. Cryptocurrency investors can quickly become accustomed to high levels of uncertainty, as many projects don't have a lot of real-world utility. Even Bitcoin, the grandaddy of crypto, has several potential use cases, but it isn't yet clear how it might come into its own. That makes Ripple Labs and XRP a rare patch of (relatively) solid ground. Ripple already has partnerships with a number of banks and institutions, though not all of them use XRP. It says there are more than 1,500 projects, including stablecoins, on its XRP Ledger, a business-focused blockchain. As Kendrick points out, that could be a key driver for growth, especially as stablecoin transaction volumes increase. The U.S. is closer than it's ever been to passing clear legislation that would give a regulatory framework for the burgeoning stablecoin industry. Citigroup's recently published Digital Dollars report projected that the stablecoin market could grow from $230 billion to between $500 billion and $3.7 trillion by 2030. Not only does Ripple offer a low-cost and easy way to move money, particularly abroad, but it also helps companies and financial institutions that want to integrate blockchain technology into their businesses. That might be through tokenized assets, custodial solutions, or payment support. For example, this month, the Dubai Land Department launched a tokenized real estate project on an XRP Ledger-based platform called Prypco Mint. Ripple Labs is well placed to capitalize on the wider development of blockchain applications. The global blockchain market is predicted to expand to more than $300 billion by 2030, according to That said, profits for Ripple's private shareholders won't necessarily equate to gains for XRP holders. The two are separate, and the company could grow without necessarily increasing the value of the token. The icing on the cake would be SEC approval of a spot XRP ETF. The Standard Chartered note suggested it could lead to $4 billion to $8 billion in inflows in the first year. However, while the current crypto-friendly SEC may well approve the ETF, it hasn't happened yet. In fact, the SEC just kicked the can further down the road, saying it needed more time to consider the proposed WisdomTree XRP Fund. I think the Ripple project has potential, but I am not convinced XRP's current market cap of almost $130 billion is warranted. That's not quite double the $70 billion market cap of PayPal, a major processor of payments and financial transactions. Visa, an even bigger payments processors, has a market cap of $688 billion. For context, the secondary private market platform Hiive puts a $15 billion valuation on Ripple Labs. Even with the caveat that it's extremely difficult to put a price on companies before their initial public offerings (IPO), that's a big disconnect. Especially since Ripple Labs owns over 40% of the total XRP. It's true that Ripple has a lot of established projects, and there's serious growth potential. However, there's also a tendency for the speculation to overtake reality. To give you two examples: The SEC and Ripple have said their legal battle is over. But the judge denied their joint settlement motion to reduce Ripple's fine and lift the injunction on institutional sales. We recently saw a flurry of news headlines that Ripple might acquire Circle, the company behind the stablecoin USDC. This week, Circle denied them and announced an IPO. Standard Chartered projects XRP can grow considerably in just a few years, even overtaking Ethereum. Ripple and XRP are certainly a solid blockchain play, with tried and tested real-world use cases. But given that a lot of the good news is already priced in, that looks optimistic. If you're looking to invest in the payment industry, consider companies like PayPal, Visa, or Mastercard. And if you want to put a small amount of crypto in your portfolio to hold for the long term, take a closer look at Bitcoin. Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,049!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $828,224!* Now, it's worth noting Stock Advisor's total average return is 979% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Citigroup is an advertising partner of Motley Fool Money. Emma Newbery has positions in Ethereum. The Motley Fool has positions in and recommends Bitcoin, Ethereum, Mastercard, PayPal, Visa, and XRP. The Motley Fool recommends the following options: long January 2027 $42.50 calls on PayPal and short June 2025 $77.50 calls on PayPal. The Motley Fool has a disclosure policy. 1 Top Cryptocurrency to Buy Before It Soars 450%, According to Standard Chartered was originally published by The Motley Fool
Yahoo
23-05-2025
- Business
- Yahoo
Standard Chartered Doubles Down On $500K Bitcoin Target, Citing 'Wider Range Of Institutional Buyers'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Standard Chartered has suggested it is more confident in its $500,000 Bitcoin price prediction. Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick highlighted that 13F data showed that several government entities increased MicroStrategy exposure in Q1. The $500,000 price point is symbolic for several Bitcoin proponents. Ambitious price predictions are commonplace in the world of cryptocurrencies, but they do not often come from prominent traditional financial institutions. Analysts at Standard Chartered predicted in February that Bitcoin would exchange hands for a staggering $500,000 per coin by 2028, reasoning that the supportive regulatory environment created by the Trump administration would improve access to the asset and bolster demand. Fast-forward three months, and the British multinational bank is doubling down. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Standard Chartered has suggested in a Tuesday note that it is more confident in its $500,000 Bitcoin price prediction following recent 13F filings with the Securities and Exchange Commission. 13F filings are quarterly reports that institutional investment managers with over $100 million in assets are required to file with the SEC. 'The latest 13F data from the US Securities and Exchange Commission supports our core thesis that Bitcoin will reach the USD 500,000 level before Trump leaves office as it attracts a wider range of institutional buyers,' Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick wrote. Kendrick said that the recent filings appeared 'disappointing at first glance' as the State of Wisconsin Investment Board revealed that it had dumped its 3,400 BTC-equivalent holdings in BlackRock's spot Bitcoin exchange-traded fund the iShares Bitcoin Trust ETF (NASDAQ:IBIT). At the same time, Abu Dhabi sovereign wealth fund Mubdala Investment Company only bumped up its 4,700 BTC-equivalent holdings in IBIT to 5,000 BTC Trending: New to crypto? on Coinbase. But while Bitcoin ETF ownership data disappointed, MicroStrategy (NASDAQ:MSTR) holdings data 'was very encouraging,' Kendrick said. MicroStrategy is a business intelligence firm turned Bitcoin treasury company widely regarded as a proxy for the leading digital asset. Kendrick highlighted that 13F data showed that several government entities increased MicroStrategy exposure in Q1. These include Norway's Government Pension Fund, the Swiss National Bank and South Korea's National Pension Service and Investment Corporation, which each increased their holdings by an equivalent of 700 BTC. U.S. retirement funds in California, Kentucky, New York and North Carolina also added a combined 1,000 BTC-equivalent shares to their holdings. Meanwhile, France's investment arm Caisse des Dépots et Consignations and the Saudi Central Bank dipped their toes for the first time with 2,404 shares worth $692,000 and 89 shares worth $25,600, respectively. 'We believe that in some cases, MSTR holdings by government entities reflect a desire to gain Bitcoin exposure where local regulations do not allow direct BTC holdings,' Kendrick noted, adding, 'MSTR holdings point to widening structural demand.' The $500,000 price point is symbolic for several Bitcoin proponents and not just because it is a very large number. In November, Bitwise investment chief Matt Hougan said the $500,000 price point marked the point where Bitcoin would be 'mature.' He explained that a mature Bitcoin would share gold's $20 trillion market cap equally, which is how he arrived at the figure. 'Until then, it's still early,' he wrote at the time. SkyBridge Capital founder Anthony Scaramucci expressed a similar sentiment last week. He said Bitcoin would be considered an asset class when it hit $500,000. At last look, Bitcoin is trading at $106,000, up roughly 1% on the day. Read Next: A must-have for all crypto enthusiasts: . 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Image: Shutterstock Send To MSN: 0 This article Standard Chartered Doubles Down On $500K Bitcoin Target, Citing 'Wider Range Of Institutional Buyers' originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Entrepreneur
11-05-2025
- Business
- Entrepreneur
Standard chartered analyst suggests Bitcoin price target may be conservative
Standard Chartered's head of digital assets, Geoffrey Kendrick, has indicated that his previously stated Bitcoin price target of $120,000 for the second quarter might be too conservative. In a light-hearted... This story originally appeared on Due Standard Chartered's head of digital assets, Geoffrey Kendrick, has indicated that his previously stated Bitcoin price target of $120,000 for the second quarter might be too conservative. In a light-hearted remark, Kendrick said, 'I apologise that my USD120k Q2 target may be too low.' The comment comes amid significant volatility in cryptocurrency markets, where Bitcoin has shown remarkable price movement in recent months. Kendrick's statement suggests growing confidence in Bitcoin's upward trajectory among institutional analysts, even as the digital currency continues to experience its characteristic price swings. Institutional Banking Embraces Crypto Forecasting Standard Chartered, a major global banking institution, has increasingly positioned itself as a voice in cryptocurrency market analysis. Kendrick's role as head of digital assets represents the bank's commitment to providing insights into this emerging asset class for its clients and investors. Bitcoin's $120,000 price target in Q2 would substantially increase from current levels. Kendrick's now-potentially conservative view of this target signals a bullish outlook from a traditional financial institution on cryptocurrency's near-term prospects. This stance marks a notable shift from the skepticism many banking executives expressed toward digital assets in previous years. Major financial institutions have gradually moved from dismissing cryptocurrencies to analyzing them as legitimate investment vehicles. Market Implications of Bullish Forecasts Price predictions from established financial institutions can influence market sentiment and investor behavior. When analysts from traditional banks make bold forecasts about cryptocurrency prices, it often lends credibility to the asset class among mainstream investors. While delivered with humor, Kendrick's comment carries weight in the investment community due to Standard Chartered's reputation. The bank's willingness to publish specific price targets for Bitcoin represents a maturation in how traditional finance approaches digital asset valuation. 'I apologise that my USD120k Q2 target may be too low,' Geoffrey Kendrick, head of digital assets at Standard Chartered. The timing of this statement coincides with increased institutional adoption of cryptocurrencies, including: The approval and launch of Bitcoin ETFs in the United States Growing corporate treasury investments in Bitcoin Expanded cryptocurrency services offered by payment processors Analyzing the Basis for Optimistic Targets While Kendrick did not elaborate on the specific factors leading him to suggest his target might be conservative, several market dynamics could support such a view. Bitcoin's limited supply of 21 million coins creates scarcity, particularly as institutional demand increases. The cryptocurrency market has historically moved in cycles, with periods of rapid price appreciation followed by corrections. Analysts tracking these patterns may identify signals suggesting the current upward movement has more room to run than anticipated. Regulatory developments, technological advancements, and macroeconomic factors all shape Bitcoin's price trajectory. Standard Chartered's analysis likely incorporates these variables into its modeling. Market observers note that price targets from major banks often serve as psychological anchors for investors. Whether Bitcoin reaches the $120,000 mark in Q2 or not, the prediction may influence trading strategies and investment decisions across the cryptocurrency ecosystem. As digital assets continue to gain mainstream acceptance, the forecasts from traditional financial institutions will likely play an increasingly important role in shaping market narratives and investor expectations. Kendrick's comment, though brief, adds another data point to the evolving relationship between conventional banking and the cryptocurrency sector. The post Standard chartered analyst suggests Bitcoin price target may be conservative appeared first on Due.
