Trump’s China Gambit Puts Standard Chartered’s $500K Bitcoin Thesis Back in Focus

At a White House event on July 6, President Donald Trump reframed his support for Bitcoin in explicitly geopolitical terms, arguing that ceding ground in digital assets would hand China a strategic advantage, a posture that has renewed attention on Standard Chartered’s standing forecast.

This was maintained by Global Head of Digital Assets Research Geoffrey Kendrick, who said Bitcoin would reach $500,000 before Trump’s term concludes. With BTC trading near $64,000 at the time of the Yahoo Finance report published July 9, that target implies a roughly 7.8× move from current levels.

This is not simply a price call. It is an institutional thesis about the interaction between sovereign adoption, ETF-driven inflows, and a policy environment that has shifted materially since January 2025, and it now carries the added variable of a president who has publicly staked national security credibility on crypto’s success.

Trump Crypto Stance: The China Framing and Its Limits

Trump’s remarks at the July 6 event were direct. “And Bitcoin, nobody even understands how powerful it is. The capital flows, nobody understands how powerful it is,” he said, according to the primary source. He identified geopolitical competition as the central driver of his support: “If we don’t have it, China’s going to have it.”

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