![[NEWS] Bitcoin may rise to around 30 million yen by the end of 2025, according to Standard Chartered Bank](/_next/image?url=https%3A%2F%2Fimages.microcms-assets.io%2Fassets%2F7819a9cf917e4bcd862bfa2ff5f14d24%2F98ee698287b74e188fbb9120eaf3f492%2Fstand317092622.jpg&w=3840&q=75)
British financial giant Standard Chartered Bank announced on the 8th that approval of a Bitcoin spot ETF could lead to inflows of $50 billion to $100 billion this year.
It also pointed out that the price of Bitcoin (BTC) could rise by more than 300% to $200,000 by the end of 2025.
Geoff Kendrick, head of research at the bank, reported, "If a Bitcoin spot ETF is approved, we estimate that inflows will be $50 billion to $100 billion this year alone. The price level at the end of 2025 could approach $200,000, which would be a 344% increase from the current price of about $45,000."
Kendrick previously predicted that Bitcoin prices would likely reach $100,000 by the end of this year, with demand surging once crypto spot ETFs are traded. His bullish prediction is that supply will not be able to keep up, given the Bitcoin halving this April and miners buying up Bitcoin.
In determining Bitcoin's outlook for next year, Kendrick noted the similarity of the first gold spot product and its spot price impact, saying, "We use the 4.3x increase seen in gold as our base case for Bitcoin. We expect the Bitcoin ETF market to mature more quickly. Bitcoin's upside could happen in the short term, as soon as one or two years."
Since the launch of the gold ETF SPDR Gold Shares (GLD), prices have risen gradually, reaching more than four times their value.
Kendrick also pointed out that when holdings by ETFs outside the U.S. surged in 2020, the price of Bitcoin rose at a similar level, adding, "As Bitcoin supply decreases, if demand increases, it will have a significant impact on the price of Bitcoin."
On the 11th, the SEC approved Bitcoin spot ETFs applied for by BlackRock, Fidelity, and others. As a result, the price of Bitcoin temporarily reached $49,000 (approximately 7.1 million yen) in the early hours of the 12th (Japan time), and expectations are growing for further price increases in the future.
Reference:The Block
Image: Shutterstock
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