Odaily reported that Geoff Kendrick, an analyst at Standard Chartered Bank, said that if regulatory changes improve investor access conditions and volatility declines, Bitcoin may attract new buyers over time. The U.S. Securities and Exchange Commission's (SEC) data on Bitcoin purchases in the fourth quarter was "very encouraging." Although hedge funds have dominated the buy-side again, bank buy-side has also been strong. A sovereign wealth fund in Abu Dhabi reported holding a position equivalent to 4,700 Bitcoins in BlackRock's iShares Bitcoin ETF. He said, "While the current scale is small, it is expected to increase, and other sovereign funds may also start buying." Bitcoin is expected to reach $500,000 before Trump's term ends in 2029. (Jinshi)