According to ChainCatcher, citing Walter Bloomberg, Jeff Kendrick from Standard Chartered Bank stated in a report that Bitcoin could reach a historic high if concerns about the Federal Reserve's independence persist.
He noted that this cryptocurrency can hedge against risks in the existing financial system due to its decentralized ledger. This risk is currently manifesting through risks faced by US Treasury bonds, following former President Trump's hint that he might remove Federal Reserve Chairman Jerome Powell due to his willingness to cut interest rates.
Kendrick stated that investors are demanding a significant premium for long-term Treasury bonds over short-term bonds, which is favorable for Bitcoin. Standard Chartered Bank expects Bitcoin's price to rise to $200,000 by the end of 2025.
