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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Cathie Wood’s ARK Invest Puts Bitcoin At $1 Million By 2030

Best Owie
Best Owie
1 year ago
3 mins read
bitcoin atop dollars

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Investment firm ARK Invest has revealed its bullish outlook for bitcoin. It is not the first time that the company would be taking such a bullish stand on the digital asset. But it is the first time that it is putting the price of the cryptocurrency at such a high price point. This comes following the recent market crash that saw bitcoin lose about 50% of its all-time high value but this has done nothing to deter the firm from seeing a largely successful future for the digital asset.

Bitcoin At $1 Million

The latest prediction from the investment firm came in a recently published report that held a particularly promising outlook for the blockchain and the technologies that surround it. This included the application of public blockchains, of which the report put forward that bitcoin was the “most profound application” of this.

Related Reading | Bitcoin Inflows Suggest Institutional Investors Are Moving Back Into The Market

For the value of bitcoin itself, the points expressed in the report held closely to that of its leading figure, Cathie Wood. Wood had earlier said that she believed that the price of bitcoin would hit the $500,000 mark in the next five years, propelled forward by institutional investors moving just 5% of their portfolios into the digital asset. The report suggested that they believed this number would double in the following half a decade, putting its price at $1 million by 2030.

Bitcoin price chart from TradingView.com

BTC resumes another downtrend | Source: BTCUSD on TradingView.com

Citing market research carried out by the firm, it put the growth rate of bitcoin in the next decade at 25-fold, saying that the digital asset possessed significant appreciation potential over this time period.

“According to our research, Bitcoin’s market capitalization could scale more than 25-fold in the next decade, with each exceeding $1 million in value,” the report read.

Where Does Ethereum End Up?

Bitcoin was not the only digital asset that received much praise and positive outlook in this report. As stated above, the report’s stance on the market, in general, was gleaming and Ethereal was no different in this regard.

Ethereum which has been one of the fastest-growing crypto projects has been put forward as being a valuable investment option going forward and ARK Invest does not disagree. It put the second-largest cryptocurrency by market cap at a whopping $20 trillion market cap by 2030.

Related Reading | Goldman Sachs: Mainstream Adoption Won’t Boost Bitcoin Price

Given that this time frame is less than a decade away, it means that the digital asset would have to grow at least 7,000 times from the current market value to hit this valuation. However, ARK Invest remains confident in the digital asset’s ability to appreciate due to its dominance on financial services existing on the blockchain.

If ethereum does reach the $20 trillion market cap, then the asset’s value would rise to around $170,000-$180,000 apiece. Still less than half of bitcoin’s expected valuation by the firm, but a growth rate that would rival even the best of the best in any financial market.

Featured image from Blockchain News, chart from TradingView.com
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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers.

Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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