Lens1000
VIP Contributor
Because bitcoin's global adoption is still in its early stages, ARK Investment Management, managed by star manager Cathie Wood, expects that its price will top $1 million by 2030.
"Bitcoin's market value still represents a fraction of global assets and is anticipated to scale if nation-states recognize [it] as legal cash," ARK analyst Yassine Elmandjra wrote in the firm's "Big Ideas 2022" outlook report, published on Tuesday.
The cryptocurrency is gaining market share as a worldwide settlement network, according to ARK's bitcoin outlook. Bitcoin's cumulative transfer volume climbed by 463 percent in 2021, according to ARK's study, and its yearly settlement volume has overtaken Visa's annual payments volume.
Bitcoin's scaling may be aided by technological improvements such as the Taproot update and the Lightning Network. According to ARK, institutional ownership of bitcoin will also grow.
Wood estimated that bitcoin would hit $500,000 by 2026 last year. Personally, I see the figures as an exergerrated one. I don't think that bitcoin will not surpass $500,000 as predicted by Woods. So many experts have come with predictions of different versions but I think that most of these predictions do not follow the market trends as they are mere exergerrations.
What's your opinion on the figure released by Woods ?
"Bitcoin's market value still represents a fraction of global assets and is anticipated to scale if nation-states recognize [it] as legal cash," ARK analyst Yassine Elmandjra wrote in the firm's "Big Ideas 2022" outlook report, published on Tuesday.
The cryptocurrency is gaining market share as a worldwide settlement network, according to ARK's bitcoin outlook. Bitcoin's cumulative transfer volume climbed by 463 percent in 2021, according to ARK's study, and its yearly settlement volume has overtaken Visa's annual payments volume.
Bitcoin's scaling may be aided by technological improvements such as the Taproot update and the Lightning Network. According to ARK, institutional ownership of bitcoin will also grow.
Wood estimated that bitcoin would hit $500,000 by 2026 last year. Personally, I see the figures as an exergerrated one. I don't think that bitcoin will not surpass $500,000 as predicted by Woods. So many experts have come with predictions of different versions but I think that most of these predictions do not follow the market trends as they are mere exergerrations.
What's your opinion on the figure released by Woods ?
