Standard Chartered Analyst: Bitcoin to Reach $200,000 by 2025 in Comparison to the Debut of Gold ETF
According to a report from Standard Chartered Bank, which was quoted by The Block and watcher.guru, the bank has once again raised the price ceiling for Bitcoin, after previously estimating that the price would soar to $100,000.
In comparing the expected launch of a Bitcoin spot ETF by Standard Chartered Bank with a gold ETF, the report mentions that the first gold ETF in the United States, “SPDR Gold Shares (GLD),” was launched in 2004 and is currently the world’s largest physical gold ETF.
Analyst Geoffrey Kendrick explains that when GLD was launched, the global gold market was valued at around $2.2 trillion, while the current market value of BTC is $0.86 trillion. Based on the subsequent $88 billion inflow into GLD, it is estimated that $34 billion will flow into the Bitcoin ETF.
The report also states that, from an “overvaluation” perspective, the inflow of funds in 2024 is expected to reach $130 billion, and the range of $50 billion to $100 billion “seems reasonable.” Previous issuers, such as VanEck, estimated quarterly inflows of $2.4 billion, Galaxy predicted an inflow of $14 billion in the first year, and Bitwise projected a market size of around $72 billion within five years. Standard Chartered Bank’s assessment appears to be higher than those of the aforementioned issuers.
Standard Chartered Bank also sees the approval of a Bitcoin spot ETF as a watershed moment for institutional investors. The bank predicts that by the end of 2025, the price of Bitcoin could reach $200,000. The analyst states that after the introduction of GLD, the price of gold increased 4.3 times in seven years, and they expect a similar increase in the price of BTC. Considering the continuous development of the Bitcoin ETF market, this increase is expected to be achieved in a shorter time span (one to two years). Assuming that 437,000 to 1.32 million BTC are held in the form of a spot ETF, this also aligns with the expected inflow of $50 billion to $100 billion.
