Bitcoin Projected to Reach $200K by Late 2025, Unaffected by Election Outcomes

Geoff Kendrick, the global head of digital assets research at Standard Chartered, believes that Bitcoin could potentially hit $200,000 by the end of 2025, regardless of who wins the upcoming U.S. presidential election in 2024. Kendrick’s bullish prediction stems from several key factors that he believes will fuel Bitcoin’s price growth.

According to Kendrick, the potential revocation of the Staff Accounting Bulletin-121 (SAB-121)—which currently limits banks from holding digital assets on behalf of clients—could be a significant catalyst. Additionally, he points to a slight rise in inflation and growing inflows into Bitcoin-focused exchange-traded funds (ETFs) as other major contributors to the predicted price surge.

Kendrick is optimistic that SAB-121 will be scrapped, no matter whether the next U.S. president is former President Donald Trump or Vice President Kamala Harris. He also anticipates changes at the Securities and Exchange Commission (SEC), especially with the likelihood of new leadership. Kendrick noted SEC Chair Gary Gensler’s current unfavorable stance toward crypto and suggested that a new appointee could have a more positive effect on the crypto markets.

“You could see an influx of ETFs relatively soon,” Kendrick remarked. He further speculated that Solana might emerge as the next prominent player in this space.

Addressing the broader macroeconomic landscape, Kendrick added, “For the first time in several quarters, 10-year yields are above two-year yields, which is a slightly positive signal. Inflation expectations have ticked up a bit, while real yields have dropped slightly.”

Kendrick’s projection also includes a short-term forecast: if Trump returns to office, Bitcoin could reach around $125,000 by the end of 2024. However, he remains confident that Bitcoin will hit $200,000 by the end of 2025, regardless of the political outcome.

With the election just weeks away, crypto political action committees (PACs) are pouring millions into campaigns to ensure that pro-crypto policies and candidates are represented. For the first time in U.S. history, the national spotlight is on crypto during a presidential election, reflecting its growing influence. A recent poll by the Gemini exchange revealed that around 73% of U.S. respondents indicated that crypto policy will play a role in their voting decisions.

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