- Trump’s Crypto Reserve plan could push Bitcoin to $500K by 2028, says Standard Chartered’s Geoff Kendrick.
- Bitcoin’s price surge follows Trump’s reserve announcement, boosting investor confidence and market optimism.
Standard Chartered executive Geoff Kendrick drew Bitcoin back to its $500k target after Donald Trump revealed plans for a U.S. Crypto Strategic Reserve. The strategic crypto reserve, including Bitcoin together with Ethereum as well as XRP, Solana, and Cardano, could establish long-term stability within the cryptocurrency market.
Kendrick states that Trump’s strategic reserve initiative has the potential to decrease Bitcoin risks while allowing slow price increases, which would increase investor belief in the asset class. The crypto market started showing fluctuations after the announcement, leading BTC to rise from $85,000 up to $95,000, then stabilize near $93,000.
Trump’s Crypto Reserve Announcement Boosts Market Sentiment
Through his Truth Social update on Sunday, President Trump proclaimed his crypto working group would initiate procedures to establish a Crypto Strategic Reserve that would focus on Bitcoin and Ethereum as well as XRP, Solana, and Cardano digital assets. This planned reserve centers its attention on the digital assets Bitcoin and Ethereum, along with XRP, Solana, and Cardano, as it represents a major U.S. governmental advancement regarding cryptocurrencies.
Bitcoin prices skyrocketed more than 10% after news dissemination, causing it to touch $95,000 for a brief period before stabilizing at $93,000. The price of Cardano rose by 40% while XRP gained 16% in market value.
Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, remarked that Trump’s move could eliminate negative market outcomes, offering room for further growth. Kendrick noted that Bitcoin could become an increasingly stable component of global portfolios, serving as a hedge against the current challenges faced by traditional finance. Kendrick maintains his forecast of $500,000 in Bitcoin value by 2028 because the market has evolved from people selling excitement to buying periods of lower value.
Increased Access to BTC and Investor Optimism
Kendrick described Bitcoin price growth as directly linked to the increasing accessibility of investors to Bitcoin markets. According to his assessment, the Bitcoin price will increase throughout time due to wider U.S. state investor involvement. According to Kendrick, the Bitcoin reserve program launched by Trump has the possibility of inspiring state governments to form their own Bitcoin holdings. The planned Bitcoin-oriented changes would result in states pooling vast amounts of Bitcoin, which would help establish market stability together with increased legitimacy.
In his forecast, Kendrick maintains that BTC is on track to reach $200,000 by the end of 2025, with further increases to $300,000 by 2026, $400,000 by 2027, and ultimately $500,000 by the end of 2028. This outlook aligns with the broader expectation that Bitcoin is becoming a more accessible and secure asset for institutional and retail investors alike.
Trump’s Crypto Plans Push Bitcoin Toward Key Market Breakout
Trump’s announcement comes just days before the White House’s Crypto Summit on March 7, where the market is hoping for concrete policy news. Kendrick called the current market optimism a “Trump put” for crypto, like the “Fed put” in stocks. This means that just as the Federal Reserve intervenes in stocks, Trump’s policies will be a safety net for crypto investors.
Despite the recent rally, Kendrick warned the market may still be volatile in the short term. February was BTC’s worst month since June 2022, but the weekend bounce-back suggests the market is regaining confidence.
As the crypto market waits for further developments, particularly the first-ever White House Crypto Summit, optimism remains high for BTC and other cryptocurrencies. Investors will be closely watching for concrete policy shifts that could further solidify the U.S.’s leadership in the digital asset space.
