Bitcoin briefly surged toward $107,000 as economic uncertainty grows and institutional interest intensifies. Standard Chartered reaffirms its bold $500,000 target by 2029, signaling a major shift in global investment strategies. Is Bitcoin becoming the new digital safe haven?
Bitcoin Breaks New Ground Amid Global Economic Shifts
Bitcoin (BTC) briefly crossed the $107,000 mark on Tuesday, reaching its highest level in months. The surge followed renewed confidence from Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, who reaffirmed the bank’s ambitious $500,000 price target before the end of Donald Trump’s presidential term in 2029. According to Kendrick, increased institutional exposure to Bitcoin is a key driver of this forecast.
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Recent 13F filings with the U.S. Securities and Exchange Commission (SEC) reveal growing government and institutional interest in Bitcoin through indirect channels like Strategy stock. These shares are increasingly seen as a proxy for Bitcoin exposure, especially in regions where direct crypto investments face regulatory hurdles. This trend signals a structural shift in how large entities approach digital assets.
Meanwhile, global financial markets remain under pressure. U.S. and Japanese government bonds are rapidly losing their role as traditional safe havens, prompting investors to seek alternative stores of value like Bitcoin.
Institutional Demand Surges as Bonds Lose Appeal
A new research note from investment firm KKR & Co. highlights a worrying trend: government bonds no longer provide the portfolio protection they once did. Traditionally seen as the “shock absorbers” during market downturns, bonds now often fall in tandem with equities, creating added stress for investors.
Henry McVey, KKR’s Global Head of Macro and Asset Allocation, notes that both offensive assets like stocks and defensive assets like bonds are depreciating simultaneously. This dynamic is driving institutional investors to explore alternatives such as gold and Bitcoin. Rising bond yields—such as the Japanese 30-year yield hitting 3.15% and the U.S. 30-year briefly topping 5%—underscore growing distrust in traditional instruments.
Bitcoin, by contrast, has gained over 33% since its March low of $79,500. It is increasingly viewed as a modern “store of value,” offering protection against inflation, currency devaluation, and systemic risk.
Bitcoin as an Institutional Favorite: $500K Still in Sight?
Standard Chartered’s $500,000 price prediction may sound bold, but it’s no longer an outlier. With inflation, macroeconomic instability, and growing regulatory clarity, Bitcoin is becoming an attractive long-term asset for pension funds, hedge funds, and even governments.
Strategy plays a key role in this evolution. Through aggressive BTC accumulation funded by debt and equity offerings, the company has transformed its stock into a Bitcoin investment vehicle. This strategy appeals to institutions facing legal constraints around direct crypto exposure.
Bitcoin’s rally toward its all-time high of $108,786 reinforces this growing momentum. If current trends persist, breaking new records may only be a matter of time—and that $500,000 milestone could shift from speculative to realistic.
