Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee as we analyze Standard Chartered’s Bitcoin (BTC) price projections. According to the bank, Bitcoin price could hit $500,000 as global institutions accumulate Strategy’s MSTR stock for indirect exposure to Bitcoin.

Crypto News of the Day: Standard Chartered’s Bold Bitcoin Prediction

Bitcoin was trading for $105,178, up by a modest 2.27% in the last 24 hours. In recent developments, the pioneer crypto market capitalization has ascended to an all-time high of $2.09 trillion.

To some extent, macro factors such as PBOC rate cuts and Moody’s US credit downgrade provide tailwinds.

However, analysts hold that institutional interest has much to do with Bitcoin’s value surge. Firstly, Bitcoin ETFs (exchange-traded funds), which offer Traditional Finance (TradFi) players indirect exposure to BTC, drive institutional interest.

In the same way, institutions are gaining indirect exposure to Bitcoin via Strategy’s MSTR stock. A recent