Standard Chartered: Concerns about Federal Reserve independence could push bitcoin to all-time highs
2025-04-22 14:37:58
Geoff Kendrick, an analyst at Standard Chartered, said bitcoin could rise to an all-time high if concerns about the Fed's independence persist. He said cryptocurrencies are a hedge against the risks of the existing financial system because of their decentralized ledgers. The risk of U.S. Treasuries exemplifies this after Trump hinted he might oust Federal Reserve Chairperson Jerome Powell because of his desire to cut interest rates. Kendrick said bitcoin has benefited from a significant increase in the yield premium investors pay to buy long-term Treasuries over short-term Treasuries. Bitcoin rose to a six-week high of $90,459, according to LSEG. Standard Chartered expects the price of bitcoin to rise to $200,000 by the end of 2025.
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