Bitcoin Could Hit $2.4 Million by 2030, ARK Invest Predicts Explosive Price Target by 2030
- ARK Invests 2030 Bitcoin price forecast includes a range of outcomes, with an optimistic view that suggests that the Bitcoin price could reach $2.4 million if on-chain financial activity grows by 60% each year.
- There are three key drivers for Bitcoins price growth, including institutional investment, which could contribute 43% of the expected value, and emerging market adoption.
Bitcoin price could reach a high of about $2.4 million by 2030, according to a new forecast from ARK Invest. The firm, led by Cathie Wood, increased its long-term projection for the crypto asset, pointing to a strong growth potential over the next few years.
According to ARK Invests Bitcoin price forecast for 2030, there are three possible outcomes: a low estimate of $300,000, a middle target of $710,000, and a high projection of over $1.5 million. They also presented an even more hopeful view that considers only actively traded coins and removes lost or untouched ones, suggesting that the price could even rise to $2.4 million if Bitcoins on-chain financial activities grow by 60% each year.
Bitcoin Price Forecast and Possible Market Dynamics
David Puell, the author of the analysis, used a model based on the total market size, and based on that, he expected growth to be accumulated from different areas by the end of the decade from six key sources: national reserves, corporate treasuries, digital gold positioning, institutional investment, adoption in emerging markets, and Bitcoin-driven financial services.
Institutional investment plays a major role in the bullish scenario, contributing more than 43% of the expected value, with Bitcoin potentially capturing 6.5% of the global $200 trillion investable asset pool, excluding gold.
Also, adoption in emerging markets is also important. Even a small 2.5% adoption rate from the total $68 trillion global monetary base could support the $710,000 estimate in the base case. Although government and business contributions are smaller, they could grow as adoption increases.
In November last year, Puell predicted that the BTC price could reach between $104,000 and $124,000 by the end of the year. However, in December, BTC closed at $93,440, climbed to a new high of $109,000 in January, then dropped to around $74,500 earlier this month.
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Read more: https://www.tronweekly.com/bitcoin-could-hit-2-4-m-by-2030-ark-invest/
Text source: TronWeekly
