PANews reported on November 6, according to DL News, that Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, stated in a briefing on Wednesday that after Trump's victory, the price of Bitcoin will reach $125,000 by the end of this year and $200,000 by the end of 2025. This prediction aligns with estimates made earlier this month by analysts at research and brokerage firm Bernstein. Standard Chartered also made a similar prediction in October.
Kendrick believes that many of Trump's promises to support cryptocurrency, such as firing SEC Chairman Gary Gensler, establishing a national strategic Bitcoin reserve, and reshaping the U.S. into a 'Bitcoin superpower', will drive Bitcoin prices up. Kendrick noted that from Bitcoin options trading, Standard Chartered found that many investors are interested in a price around $80,000, indicating that this cryptocurrency will reach that level 'in the next week or two'.
Regarding regulation, Kendrick stated that he expects Trump to overturn Biden's veto of SAB 121, a controversial SEC accounting guideline that critics say prevents investment banks from offering cryptocurrency custody services on a large scale. Kendrick believes this goal will be achieved soon after Trump takes office on January 20 next year, and he thinks this move will encourage more institutions to adopt cryptocurrency.
