Bitcoin is racing towards a new record according to the bank giant.

Geoff Kendrick, the digital asset strategist at London-based banking giant Standard Chartered, emphasized the recent strong capital inflows, stating that Bitcoin could reach new record levels soon. According to Kendrick, the increasing investment appetite is creating a structural support that could drive the price up.

According to the disclosed data, spot Bitcoin ETFs received a net investment of 5 billion 300 million dollars in the last three weeks. On the other hand, Strategy (, formerly known as MicroStrategy), is increasing its purchases while the Swiss Central Bank has also started to indirectly buy shares of this company.

Not only Europe but also the Middle East is showing interest in the market. Abu Dhabi's sovereign wealth fund and other long-term investors continue to increase their Bitcoin holdings. The combination of these dynamics supports Standard Chartered's Bitcoin target of 120,000 dollars for the second quarter of 2025.

At the time the news was written, Bitcoin is trading at 99,620 dollars.

Published: May 8, 2025 17:32