NewsBriefs - Standard Chartered sees growing sovereign Bitcoin exposure via MSTR, backing $500,000 target

May 20, 1:24 PM The Block

Standard Chartered sees growing sovereign Bitcoin exposure via MSTR, backing $500,000 target

Sovereign entities have increased their indirect exposure to bitcoin by purchasing shares in Strategy (MSTR), according to Standard Chartered Bank. This trend underpins the bank's projection of a $500,000 bitcoin price before President Donald Trump's term ends in 2029. The observations were based on recent 13F filings, highlighting a shift from direct bitcoin ETF investments towards significant holdings in MSTR, viewed as an indirect bitcoin proxy. Standard Chartered anticipates this move will broaden institutional attraction to bitcoin, stabilizing its market and pushing prices towards their target.

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