Geoff Kendrick, global head of digital asset research at Standard Chartered – a cross-border bank – believes that Bitcoin (BTC) will likely hit $200,000 by the end of 2025 regardless of who wins the 2024 US presidential election.
According to Kendrick, there are three factors that will push Bitcoin prices to a new record high in 2025, including the possible removal of Staff Accounting Bulletin-121 (SAB-121) – a regulation that prevents banks from holding digital assets for customers – a slight increase in inflation, and positive capital flows into Bitcoin exchange-traded funds (ETFs).
Kendrick predicts that SAB-121 will be repealed by both former President Donald Trump and Vice President Kamala Harris. Likewise, the Standard Chartered executive believes that leadership changes at the U.S. Securities and Exchange Commission (SEC) are likely – noting the negative impact that SEC chief Gary Gensler has had on the crypto industry and how Gensler’s replacement could impact the market.
“You’re going to see a lot of ETFs come out pretty quickly. Solana, I think, is the third most likely,” Kendrick predicted. Turning his attention to the macro picture, the manager said:
“The 10-year yield has been higher than the 2-year yield for several quarters now, and that’s a slightly positive story in this context. Inflation expectations have risen a little, while real yields have fallen a little.”
Kendrick concluded by predicting that Bitcoin will reach around $125,000 by the end of 2024 if former President Trump wins the White House, but also expects BTC to hit a record high of $200,000 by the end of 2025 “no matter who sits in the White House.”
45 days until the 2024 US Presidential Election
As the November election draws closer, crypto-related political action committees (PACs) are spending millions of dollars on campaigns in hopes of securing pro-crypto policies and candidates.
The 2024 presidential race has elevated cryptocurrency to a national level for the first time in history. According to a recent survey from the Gemini exchange, about 73% of respondents in the United States said that cryptocurrency policy would influence their vote in some way.
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