Bitcoin Price to $1.5M? ARK Says BTC is on Track to Hit 2030 Targets
Bitcoin price may be set to soar as high as the $1.5 million price point as early as 2030, according to $6.8 billion asset manager ARK Invest.In a "Big Ideas 2025" report released on Tuesday, February 4, ARK argued that Bitcoin was on track to hit price targets it had forecasted for 2030: $300,000 in the bear case, $710,000 in the base case, and $1.5 million in the bull case.https://twitter.com/ARKInvest/status/1886762325144965620The firm made this claim by citing factors like institutional investment, adoption in corporate treasuries, and nation-states.For one, the firm noted that spot Bitcoin ETFs have been an instant hit. These products currently hold over $116 billion in cumulative assets and have seen $40 billion in cumulative net inflows in just over a year.At the same time, ARK shared data showing that at least 74 corporations have added Bitcoin to their balance sheet. The firm disclosed that these companies hold about $55 billion worth of BTC. Unsurprisingly, MicroStrategy leads the pack with 471,107 BTC worth over $46 billion.Meanwhile, the talk of a U.S. strategic Bitcoin reserve under the Donald Trump administration has triggered optimism that the asset could be adopted in national treasuries worldwide.The ARK Invest report comes despite the asset's recent price struggles. After hitting fresh highs just above the $100,000 price point, the asset's price has been significantly range-bound amid macroeconomic uncertainties over inflation and now a looming trade war between the U.S., Canada, Mexico, and China.ARK has a vested interest in Bitcoin's success. It was one of eleven issuers who received the SEC's greenlight to launch a spot Bitcoin ETF in January 2024. Its product, launched in partnership with 21Shares, currently holds just over $5 billion in assets under management.
Text source: The Crypto Basic
