Sovereign investment in Bitcoin is accelerating—just not always in the most direct way. In a new report, Standard Chartered Bank says indirect exposure via Strategy (formerly MicroStrategy) is quietly increasing among government entities, reinforcing the bank’s long-standing price prediction that Bitcoin will reach $500,000 before President Donald Trump leaves office in 2029.

“The latest 13F data from the U.S. Securities and Exchange Commission (SEC) supports our core thesis that Bitcoin (B