Standard Chartered’s digital assets guru Geoffrey Kendrick predicts a significant uptick in bitcoin investments by sovereign wealth funds. Following Abu Dhabi’s investment in BlackRock’s bitcoin ETF more funds are expected to follow suit. Kendrick’s analysis of recent 13F filings bolsters his bold forecast of bitcoin reaching $500,000 by 2028 highlighting a growing trend among major financial players.

Bitcoin’s investment landscape is broadening beyond hedge funds and retail investors with sovereign entities now entering the fray. Kendrick notes that the participation of state pension funds and potentially central banks in the near future will diversify and stabilize the market. Such shifts signify a robust confidence in bitcoin’s long-term value as institutional frameworks mature.

Looking ahead the infusion of ‘super long-term long-only money’ from heavyweight investors like state pension funds and central banks promises a deeper more resilient market. As bitcoin’s volatility decreases and access improves Kendrick envisions a significant realignment of investment portfolios favoring bitcoin. This trend marks a pivotal move towards mainstream acceptance and integration of cryptocurrency in global finance.