Standard Chartered forecasts Bitcoin at ₱30,230,857 ($500,000), Ethereum at ₱2,418,469 ($40,000) by 2030

Standard Chartered Global Head of Digital Assets Research Geoff Kendrick told the Milk Road podcast that Bitcoin could reach ₱30,230,857 ($500,000) by 2030 while Ethereum hits ₱2,418,469 ($40,000) in the same timeframe. That would give Bitcoin a 7.5x gain from its current $66,400 price. Ethereum would climb 20x from $2,034, delivering nearly triple Bitcoin's relative return.

Kendrick flagged the ETH/BTC ratio as the key metric to watch. The ratio currently sits at 0.03 but could climb toward 0.04 in the near term as institutional players build blockchain products on Ethereum first. He cited BlackRock as an example of a major asset manager developing on Ethereum before expanding to competing chains. Kendrick characterized this as the first phase of real-world adoption, even if activity eventually spreads to other blockchains.

The forecast includes checkpoints along the way. Kendrick expects Bitcoin to hit $100,000 by the end of 2026, a roughly 50% gain from current levels. Ethereum would reach $4,000 in the same period, marking a 95% climb.

Kendrick shared the forecast during an April 1 podcast appearance rather than through a formal research note. Institutional adoption and network usage are the primary drivers behind his $40,000 Ethereum target, representing massive outperformance compared to Bitcoin's projected gains through 2030.