Bitcoin to hit $200K by end of 2025 regardless of election — Bank exec
The 2024 election is projected to be a tight race on the granular local level, but this shouldn’t matter for the long-term price of BTC.
Geoff Kendrick, global head of digital assets research at Standard Chartered — a cross-border bank — believes Bitcoin (BTC) will have likely reached $200,000 by the end of 2025 regardless of who wins the 2024 United States presidential election.
According to the bank executive, three factors are poised to drive the price of Bitcoin to new all-time highs in 2025, including the likely removal of Staff Accounting Bulletin-121 (SAB-121) — a rule effectively preventing banks from holding digital assets for clients — a marginal uptick in inflation, and positive inflows into Bitcoin exchange-traded funds (ETFs).
Kendrick expects SAB-121 to be repealed by both Former President Donald Trump and Vice President Kamala Harris. Similarly, the Standard Chartered executive said that leadership changes at the Securities and Exchange Commission were likely coming — specifically noting SEC Chair Gary Gensler’s negative impact on the crypto industry and what Gensler’s potential replacement could mean for the markets.
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Author: Vince Quill
