Bitcoin Price to Reach $500,000 by 2028, Volatility Expert Claims

Bitcoin could soar to as high as $500,000 within roughly two years, according to Cole Kennelly, founder and CEO of cryptocurrency volatility specialist Volmex Labs.

Bitcoin would have to increase more than sixfold from the level shown during the interview to reach $500,000. This would mean a gain of roughly 540%.

BTC is currently changing hands at $84,269, according to CoinGecko data.

The forecast is very noteworthy, given that Volmex Labs measures volatility.

The company's Bitcoin Volmex Implied Volatility Index is meant to determine the market's forward-looking expectation for the leading cryptocurrency.

Volmex also launched BVIV-US earlier this year. That index derives Bitcoin volatility expectations from options tied to BlackRock's iShares Bitcoin Trust (IBIT).

Not unprecedented

Interestingly, $500,000 by 2028 is not an entirely unprecedented Wall Street target, and such targets should be taken with a huge grain of salt.

Standard Chartered previously forecast that Bitcoin could reach exactly that level by the end of 2028. In December 2025, however, Standard Chartered pushed its $500,000 target back to 2030 (mainly due to weaker corporate buying).

In September 2021, the ARK Invest CEO said Bitcoin could rise roughly tenfold to around $500,000 over the following five years. However, this never happened.

Galaxy Digital founder Mike Novogratz made a similar call in 2022. He repeatedly said Bitcoin could reach $500,000 within five years, which put the implied deadline around 2027 (highly unlikely).

"Rich Dad Poor Dad" author Robert Kiyosaki went even further on timing. In February 2023, he predicted that Bitcoin would reach $500,000 by 2025 (another failed prediction).