Latest news with #GeoffreyKendrick
Yahoo
11 hours ago
- Business
- Yahoo
2 Cryptocurrencies to Buy Now Before They Soar 140% and 580%, According to a Wall Street Analyst
Geoffrey Kendrick at Standard Chartered expects XRP to overtake Ethereum as the second most valuable cryptocurrency by 2028. David Puell at Ark Invest thinks Bitcoin can reach $710,000 by 2030 as more institutional investors and companies buy the cryptocurrency. Anyone uncomfortable with volatility should avoid cryptocurrencies, and investors should never anchor to Wall Street's price targets. 10 stocks we like better than XRP › XRP (CRYPTO: XRP) and Bitcoin (CRYPTO: BTC) advanced 565% and 410%, respectively, in the last three years. But certain Wall Street analysts expect the cryptocurrencies to climb even higher in the next few years: Geoffrey Kendrick at Standard Chartered says XRP will top Ethereum by 2028. At current prices, XRP must climb 140% to $5.10 to surpass Ethereum's market value of $302 billion. David Puell at Ark Invest expects Bitcoin to hit $710,000 by 2030. That implies about 580% upside from its current price of $104,000. Here's what investors should know about XRP and Bitcoin. The investment thesis for XRP centers on its ability to facilitate fast and cheap cross-border transactions. It is the native digital asset on the XRP Ledger, a blockchain created by fintech company Ripple to disrupt SWIFT (Society for Worldwide Interbank Financial Telecommunications), the system banks generally use to send money internationally. XRP transactions settle in seconds and cost a fraction of a cent, but SWIFT transactions may not settle for days and often incur larger fees. Yet, very few financial institutions have adopted XRP as a bridge currency to facilitate cross-border payments. I doubt that will change in the future, because cryptocurrency prices are volatile. Why send money as XRP when its price could plunge in a very short period? However, fast and inexpensive transactions mean that the XRP Ledger is also ideal for tokenized assets, a market that will hit $19 trillion by 2030, according to Ripple. Tokenized assets are real-world assets represented as digital tokens on a blockchain. For instance, Guggenheim Treasury Service recently tapped the XRP Ledger to issue digital commercial paper, a fixed-income security. Greater adoption of the XRP Ledger increases demand for the native cryptocurrency, XRP, which could make the token more valuable over time. However, I see a bigger catalyst in the pending approval of several spot XRP ETFs. Bitcoin has gained 125% since the approval of spot Bitcoin ETFs in 2024, and XRP could see similar price appreciation. The investment thesis for Bitcoin centers on its status as digital gold. Investors see the cryptocurrency as a hedge against inflation and the devaluation of fiat currencies like the U.S. dollar. In fact, the U.S. Dollar Index has declined 10% year to date, but Bitcoin has advanced 13%. That trend is likely to continue in the years ahead because, unlike fiat currencies, Bitcoin supply is limited. Importantly, institutional investors are increasingly comfortable owning Bitcoin. Forms 13F filed for the first quarter indicate that the number of large asset managers (with $100+ million in securities) with positions in the two most popular spot Bitcoin ETFs -- the iShares Bitcoin Trust and the Fidelity Wise Origin Bitcoin Fund -- more than tripled in the past year. Meanwhile, many companies are adding Bitcoin to their balance sheets. Strategy (formerly MicroStrategy) has essentially turned itself into a Bitcoin investment vehicle. It owns 582,000 BTC, purchased at an average price of $70,086, and it plans to invest another $56 billion through 2027. Other companies are following the same playbook, including Mara and Semler Scientific. Here's the bottom line: XRP and Bitcoin could be worth much more in the future due to the catalysts outlined above, But neither is a wise investment for anyone uncomfortable with extreme volatility, and investors should never anchor to price targets set by Wall Street. Finally, between the two, I would choose Bitcoin in a heartbeat because it has the distinct advantage of being the largest, most liquid, and best known cryptocurrency. Additionally, spot Bitcoin ETFs make it easy to get Bitcoin exposure. The same cannot be said (yet) about XRP. Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Trevor Jennewine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin, Semler Scientific, and XRP. The Motley Fool recommends Standard Chartered Plc. The Motley Fool has a disclosure policy. 2 Cryptocurrencies to Buy Now Before They Soar 140% and 580%, According to a Wall Street Analyst was originally published by The Motley Fool
Yahoo
12-06-2025
- Business
- Yahoo
Standard Chartered analyst predicts XRP will flip Ethereum in 3 years
Standard Chartered analyst predicts XRP will flip Ethereum in 3 years originally appeared on TheStreet. Geoffrey Kendrick, global head of digital assets research at Standard Chartered Bank, recently predicted that XRP would overtake Ethereum in terms of market cap by 2028. Kendrick wrote: "That will make XRP the second-largest non-stablecoin digital asset." As per Kraken, Bitcoin is the largest cryptocurrency with a market cap of $2.12 trillion, followed by Ethereum with a market cap of $329.5 billion and Tether's USDT with a market cap of $155 billion. XRP is the fourth-largest cryptocurrency that has a market cap of $130.9 billion. If we take Kendrick's 2028 projection into consideration, then XRP's price should reach $5.6 over the next three years. XRP was exchanging hands at $2.22 at press time, as per Kraken's price feed. The cryptocurrency needs to surge by 2.5 times by 2028 if it is willing to meet Kendrick's rather ambitious expectation. But it's not an impossible ask for a cryptocurrency that has surged more than 360% in value over the last 12 months. Meanwhile, Ripple CEO Brad Garlinghouse recently said he expected XRP to capture 14% of the SWIFT market share within the next five years. While SWIFT is the backbone of the cross-border payments industry, it's often criticized for its slow and expensive model — something Garlinghouse is counting on, as XRP claims to offer a faster and more economical international payments system. In other news, investor Jeremy Raper revealed on X on 10 June that Ripple is planning a $700 million buyback of 3-5% of the company at $175 per share. The pre-IPO Ripple stock was trading at $75.99, as per HIIVE. So, the company's later bid represents a 135% premium. The company last bought back its shares in January at $125 per share, and now it has hiked the price and size of the buyback within six months only, Raper noted. Ripple has $3.7 billion in cash and 41 billion XRP tokens worth $91 billion, with no debt on its balance sheet. The company also holds $600 million in other undisclosed investments, besides holding 36.2 billion XRP tokens in an escrow. Standard Chartered analyst predicts XRP will flip Ethereum in 3 years first appeared on TheStreet on Jun 12, 2025 This story was originally reported by TheStreet on Jun 12, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-06-2025
- Business
- Yahoo
K-Pop Company Jumps On Bitcoin Treasury Train, Stock Surges 150%
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The Bitcoin Treasury Company train is showing no signs of slowing. The latest to jump on the bandwagon is an entertainment firm focused on producing K-pop music and related merchandising. K Wave Media (NASDAQ:KWM) said on Wednesday that it agreed to sell $500 million worth of ordinary shares to Bitcoin Strategic Reserve KWM, vowing to commit a significant portion of the proceeds to buy Bitcoin. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . 'K Wave is looking to be the 'Metaplanet of Korea,'' the firm said, referring to the Japanese hotel management company-turned-Bitcoin-treasury firm in 2024. Metaplanet's stock surged 2,600% within the year. K Wave Media said it expected a similar model to resonate with investors across Asia and the world. Indeed, the company's stock surged nearly 150% following its announcement of a Bitcoin treasury, opening at almost $5 on Wednesday after closing just below $2 on Tuesday. Beyond purchasing Bitcoin, K Wave Media intends to become deeply involved in the blockchain ecosystem, revealing plans to operate Bitcoin Lightning Network nodes and invest in native infrastructure, with the goal of enabling customers to engage with content and purchase merchandise on the blockchain. 'Bitcoin offers not just a store of value, but a foundation for innovation, independence, and global scalability," said Co-Interim CEO of K Wave Media Ted Kim. 'This is a defining step forward for K Wave and for the future of creative finance that will further assist KWM to produce [South] Korea's best content and help position KWM in the K POP's entire ecosystem by allowing it to expand to concert management and music distribution, among others.' Trending: New to crypto? on Coinbase. Standard Chartered recently estimated that approximately 61 public companies are adding Bitcoin to their balance sheets in hopes of becoming proxies for the leading digital asset. The bank warned that while the business model worked for now, as institutional access to Bitcoin remained limited in some regions, these companies are likely to lose their value as the asset became more normalized. At the same time, the bank warned that newer firms in the space faced a Bitcoin volatility risk. 'BTC volatility suggests that a move lower – below the average purchase prices for some Bitcoin treasuries – is probable in the nearer term,' Standard Chartered digital assets research chief Geoffrey Kendrick said. 'Indeed, at current average purchase prices for Bitcoin treasuries, it would only take a move back below USD 90,000 to put half the Bitcoin treasuries (by number of companies) underwater.' Standard Chartered warned that these firms may not have a large pain threshold. According to the bank, these firms could be forced to sell if Bitcoin were to slip 22% below their purchasing price. 'Bitcoin treasuries are adding to Bitcoin buying pressure for now, but we see a risk that this may reverse over time,' Kendrick said. Read Next: A must-have for all crypto enthusiasts: . Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Image: Shutterstock This article K-Pop Company Jumps On Bitcoin Treasury Train, Stock Surges 150% originally appeared on
Yahoo
06-06-2025
- Business
- Yahoo
Bitcoin Treasury Companies Face BTC Volatility Risk, Says Standard Chartered: Here's Where They Could Liquidate
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick has warned of risks to the Bitcoin treasury strategy. New entrants into the space are particularly vulnerable. Kendrick has said that forced liquidations are likely in the face of volatility. The Bitcoin treasury company trend continues to spread like wildfire. Almost every week, a new corporation appears, announcing plans to stockpile the leading digital asset. Last week, it was Trump Media (NASDAQ:DJT) and Norwegian cryptocurrency trading firm K33. This week, it is Canadian energy firm SolarBank. These firms view the Bitcoin treasury strategy as a surefire way to grow shareholder value, inspired by the success of Michael Saylor's MicroStrategy (NASDAQ:MSTR). Most Bitcoiners have cheered them on, as it has led to increased demand. This demand has been the primary driver of Bitcoin's upward momentum over the past few months. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . But Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick is warning of risks. 'Bitcoin treasuries are adding to Bitcoin buying pressure for now, but we see a risk that this may reverse over time,' he said in a note to investors on Tuesday. Including MicroStrategy, about 61 firms are pursuing this Bitcoin treasury strategy, Kendrick estimated. These firms currently hold nearly 674,000 BTC, worth approximately $71 billion. Kendrick warned that the fuel for the Bitcoin treasury strategy, which is the premium at which the stock of most of these firms trades to the value of their BTC holdings, was unlikely to be sustainable. Noting that current access hurdles were the justification for the premium, he said that as the asset became more easily accessible and normalized, institutional investors would be unlikely to need proxies, making the premium unsustainable. Trending: New to crypto? on Coinbase. This, he said, would lead to 'downward pressure on the equity prices of the Bitcoin holders.' Meanwhile, Kendrick said these firms, particularly new entrants into the space, face an even more immediate threat: Bitcoin volatility. 'BTC volatility suggests that a move lower – below the average purchase prices for some Bitcoin treasuries – is probable in the nearer term,' he said. 'Indeed, at current average purchase prices for Bitcoin treasuries, it would only take a move back below USD 90,000 to put half the Bitcoin treasuries (by number of companies) underwater.' And Kendrick does not believe that these firms have a high pain threshold. According to the researcher, a 22% drop below average purchase prices could turn newer Bitcoin treasury firms into 'forced sellers.' These firms have doubled their Bitcoin holdings from 50,000 BTC to 100,000 BTC, worth roughly $11 billion in the past two months, said Kendrick. Kendrick cites the 2022 bear market actions of Bitcoin miner Core Scientific (NASDAQ:CORZ) in his reasoning. In the run-up to the bear market, the firm had maintained a no-BTC selling policy, opting instead to raise capital to cover operations, much like today's treasury firms. But as the asset crashed in 2022, it was forced to sell at a loss and restructure its debt. 'Core Scientific sold 7,202 Bitcoins at an average price of USD 23,000 in June 2022. At that time, we calculate that Core Scientific was mining Bitcoins at an average cash cost of USD 29,600. The forced sale price (forced in the sense that creditors would no longer fund Core Scientific's business model) was just 22% below the cost of production,' Kendrick said. Read Next: A must-have for all crypto enthusiasts: . Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Image: Shutterstock This article Bitcoin Treasury Companies Face BTC Volatility Risk, Says Standard Chartered: Here's Where They Could Liquidate originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arabian Post
02-06-2025
- Business
- Arabian Post
Standard Chartered Reaffirms $500K Bitcoin Target Amid Institutional Momentum
Bitcoin has surpassed $111,000, marking a significant milestone in its 2025 bull run. Standard Chartered has reiterated its forecast that the cryptocurrency could reach $500,000 before the end of President Donald Trump's second term in January 2029. This projection is underpinned by increasing institutional interest and a shift in investment strategies towards digital assets. Geoffrey Kendrick, Standard Chartered's Global Head of Digital Assets Research, points to the U.S. Securities and Exchange Commission's Form 13F filings as evidence of growing institutional engagement with Bitcoin. These filings reveal that sovereign wealth funds and state-affiliated institutions are acquiring shares in companies like Strategy , which hold substantial Bitcoin reserves. This indirect exposure is seen as a strategic move to gain access to Bitcoin's potential upside while navigating regulatory constraints. The bank's confidence in Bitcoin's trajectory is further bolstered by macroeconomic factors. Diminishing returns on traditional government bonds have prompted investors to seek alternative stores of value. Bitcoin's capped supply of 21 million coins and its growing acceptance as a digital asset make it an attractive option for those looking to hedge against inflation and economic uncertainty. ADVERTISEMENT Standard Chartered's analysis suggests a phased growth pattern for Bitcoin: reaching $200,000 by the end of 2025, $300,000 by the end of 2026, and ultimately $500,000 by the end of 2028. This outlook is supported by the increasing integration of Bitcoin into institutional portfolios and the maturation of the cryptocurrency market. While the bank's projections are optimistic, they are not without caveats. The forecast assumes continued regulatory support, technological advancements, and sustained investor interest. Any significant disruptions in these areas could impact Bitcoin's price trajectory.
