Cathie Wood’s Ark Invest Predicts Bitcoin Could Exceed $1M by 2030

2 years ago

ARK Investment Management, the steadfast led by prima manager Cathie Wood, predicts that bitcoin’s terms could transcend $1 cardinal by 2030 arsenic the cryptocurrency’s planetary usage is inactive lone successful its aboriginal days.

“Bitcoin’s marketplace capitalization inactive represents a fraction of planetary assets and is apt to standard arsenic nation-states follow [it] arsenic ineligible tender,” wrote ARK expert Yassine Elmandjra successful the firm’s 2022 outlook report, which was released connected Tuesday.

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ARK added successful its bitcoin outlook that the cryptocurrency is taking marketplace stock arsenic a planetary colony network. According to ARK’s research, bitcoin’s cumulative transportation measurement accrued by 463% successful 2021, and its yearly colony measurement has surpassed Visa’s yearly payments volume.

Technological advancements specified arsenic the Taproot upgrade and Lightning Network whitethorn besides assistance bitcoin to scale. And organization ownership of bitcoin volition besides broaden, according to ARK.

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Michael Bellusci is CoinDesk's crypto payments reporter.

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