ARK Invest ups its 2030 Bitcoin bull case prediction to $2.4M

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Coin Telegraph 16h ago

ARK Invest ups its 2030 Bitcoin bull case prediction to $2.4M - Coin Telegraph

Quick Summary:

Billion-dollar asset manager ARK Invest has raised its “bull case” Bitcoin price target from $1.5 million to $2.4 million by the end of 2030, driven largely by institutional investors and Bitcoin’s increasing acceptance as “digital gold.”ARK’s “bear” and “base” case scenarios for the price of Bitcoin (BTC) were also bumped up to $500,000 and $1.2 million, ARK research analyst David Puell said in an April 24 report.

Bitcoin becoming a “safe haven” in emerging markets was the third-largest contributor to ARK’s $2.4 million bull case prediction at 13.5%.“This Bitcoin use case has the greatest potential for capital accrual,” Puell said, pointing to Bitcoin’s ability to protect wealth from inflation and devaluation in developing countries.

Source: ARK InvestARK’s Bitcoin predictions are boldA $2.4 million Bitcoin price tag would send Bitcoin’s market cap to $49.2 trillion, assuming that Bitcoin’s total supply will have reached 20.5 million by the end of 2030.A $49.2 trillion valuation would be almost larger than the current gross domestic products of the US and China combined.