Standard Chartered Bank set a $500,000 price target for Bitcoin for 2030, and the market rallied in response – with Bitcoin rising nearly 100 basis points to $67,500 as the outlook circulated.
The number alone is eye-catching. What’s even more telling is that it comes from a bank with a $70 billion balance sheet, not a crypto research shop, and that it was delivered without an official published note to pin it.
Standard Chartered’s $500K call: The institutional rationale behind the target
Jeff Kendrick, global head of digital asset research at Standard Chartered Bank, laid out the thesis during an appearance on the Milk Road podcast, pointing to a 2030 horizon for both Bitcoin at $500,000 and Ethereum at $40,000.
No formal research note has been published to support these numbers – the predictions were only broadcast in a chat with host John Gillen, and then spread via social clips. This delivery mechanism is important: it is a view, not a vetted bank forecast, and readers who devote capital to this distinction should note that.
Standard Chartered expects $500,000 #Bitcoin And 40 thousand dollars #Ethereum By 2030.pic.twitter.com/N59gLnKmlX
– Thecryptobasic (@thecryptobasic) April 2, 2026
The analytical logic, as formulated by Kendrick, is based on the convergence of the scarcity of Bitcoin supply with increasing institutional demand. His model treats Bitcoin as digital gold – with a cap of 21 million coins and an addressable market. If Bitcoin takes over the entire market value of gold, that would imply a value of one coin closer to $1.6 million.
$500,000 is the base case, not the ceiling. The near-term checkpoint is at $100,000 by the end of 2026, preceded by a possible pullback toward $50,000 if the Fed keeps interest rates below market rates currently.
This is not the first ambitious call for Standard Chartered. Kendrick predicted $100,000 to $200,000 by the end of 2021 after El Salvador adopted bitcoin, and in December 2024, the bank raised its 2025 target to $200,000, citing US election results and immediate ETF approvals. The progression from short-cycle trading to decade-long scarcity models reflects how bank conviction has evolved – and how far institutional forecasters are now willing to go along the risk curve.
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What is the price of Bitcoin actually doing now?
Bitcoin’s 24-hour trading volume rose 16.75% to $18.68 billion on Sunday, according to exchange data, against a market value of about $1.35 trillion. This rise in volume combined with modest price gains suggests that expectations generated support for sentiment without sparking a conviction-driven breakout – the market registered the news, not a structural rerating.
source: TradingView
The three-scenario framework applies to current levels: On the upside, Bitcoin price clears resistance near $70,000 due to continued ETF inflows and dollar weakness, putting the $100,000 checkpoint at the end of 2026 within range.
The base case holds the price in the $65,000-$72,000 range during Q3, with momentum stalling on the Fed’s interest rate path and spot ETF inflows continuing. The bearish case – a pullback towards $50,000 – materializes if macro conditions tighten unexpectedly, a scenario that Kendrick himself has referred to as a possible pullback before the next rally.
Michael Saylor added fuel to the sentiment picture separately, posting his signature orange dot chart on the The chart showed the strategy’s holdings at 762,099 BTC. Whether this signals another accumulation slide is uncertain, but the timing combined with Standard Chartered’s outlook has amplified the bullish narrative cycle.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to provide accurate and timely information but should not be considered financial or investment advice. Since market conditions can change rapidly, we encourage you to verify the information yourself and consult with a professional before making any decisions based on this content.
Neil is a professional cryptocurrency content writer with years of experience. He has written for numerous cryptocurrency websites to report breaking news, and has been hired by all kinds of cryptocurrency projects, to create content that will increase their exposure and attract more potential investors.
