In the first quarter of 2025, state organizations increased their indirect investment in Bitcoin (VTS), which confirms the forecast of $ 500 thousand per coin until the end of the current period of US President Donald Trump in 2029, according to Standard Charted Bank. Analysts draw on the growth of investments on the basis of the purchase by sovereign funds and other state agencies of shares of Strategy (MSTR), writes RBC Crypto.
“The latest data from the 13-F form from the US Securities and Exchange Commission (SEC) confirm our main thesis that Bitcoin will reach $ 500 thousand before Trump leaves his post,” wrote the head of the Standard Chartered digital assets, Jeffrey Kendrick.
The quarterly reports of 13-F are obliged to submit to the SEC institutional investment companies with assets under the control of at least $ 100 million. The latest reports show that investment in the stock funds on Bitcoin (ETF) was “disappointing”, while the growth of assets in MSTR was “very encouraging,” Kendrick said.
The positions of state organizations in American bitcoin-setf and Strategy shares (equivalent to 1000 BTC). Source: Standard Chartered, The Block
The largest traffic on the ETF funds occurred from the investment council of the American state of Wisconsin, which deduced all its assets equivalent to 3400 BTC, from the IBIT Foundation from BlackRock. Meanwhile, the sovereign welfare fund of the Abu Dhabi welfare Mubadala has slightly increased its assets in IBIT, from 4700 BTC to 5000 BTC.
But more noticeable was an increase in the share in MSTR, which Kendrick considers as an indirect indicator of bitcoin possession. “We believe that in some cases, the possession of MSTR by state organizations reflects the desire to access bitcoin where local rules do not allow to directly own BTC,” he said.
In the first three months of the year, the State Pension Fund of Norway, the Swiss National Bank, as well as the pension and investment funds of South Korea, were invested in MSTR in a total of 700 BTC, the report said. Pension funds of the four states of the United States (California, New York, North Carolina and Kentukki) added a total of 1000 BTC. Sweden and Liechtenstein slightly increased their assets, while France and Saudi Arabia first entered the asset.
This signals the growing interest of states in indirect investing in Bitcoin, Kendrick noted. He added that as more and more investors get access to bitcoin and volatility decreases, the share of the asset in the portfolios of the funds will increase from the minimum to the “optimal level”.
“The quarterly data of 13-F is the best confirmation of our thesis that, as the BTC market develops, it will attract new institutional buyers, which will help the price reach our target level of $ 500 thousand. When institutional investors buy bitcoin, prices are usually growing,” Kendrick explained.
At the end of April, Standard Chartered analysts recommended buying Bitcoin “Already”. Experts said then that until the end of June, the leading cryptocurrency will reach $ 120 thousand. The bank’s forecast that Bitcoin will reach $ 500 thousand in February over a few years.
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Source: Cryptocurrency
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