In a groundbreaking development for cryptocurrency, Bitcoin’s value is predicted to soar by over 300% by next year’s end, according to Geoff Kendrick of Standard Chartered. This surge hinges on the approval of Bitcoin spot Exchange-Traded Funds (ETFs), with Wall Street eagerly awaiting the SEC’s decision. Kendrick forecasts a potential climb to an astonishing $200,000 by 2025, a 344% jump from its current $45,000 mark.

This optimistic projection is driven by anticipated ETF inflows, possibly reaching up to $100 billion this year. Kendrick expects these inflows to significantly boost demand, potentially pushing Bitcoin’s price to $100,000 before 2024 ends. The forecast also considers a decrease in Bitcoin’s supply due to the upcoming halving cycle and token hoarding by miners.

Kendrick draws parallels between Bitcoin’s anticipated rise and the historical impact of the first gold spot ETF, which significantly increased gold prices. With Bitcoin’s supply becoming increasingly inelastic, Kendrick’s analysis points to a monumental leap in value, positioning Bitcoin for a record-breaking performance in the cryptocurrency market.