Ark Invest forecasts Bitcoin could reach $2.4 million by 2030, with a bear case of $500,000. The prediction is based on active supply analysis and factors supporting Bitcoin’s growth as a major asset. Other industry figures also project significant price increases for Bitcoin in the coming years.
Ark Invest, led by prominent investor Cathie Wood, has released an ambitious new prediction regarding Bitcoin’s pricing, projecting that the cryptocurrency could soar to an eye-popping $2.4 million per coin by the year 2030. This updated forecast was published on Thursday and represents an increase from the firm’s previous estimates outlined in their annual Big Ideas report.
The revised prediction is built upon an analytical foundation that takes into account Bitcoin’s so-called “active” supply, which excludes lost coins or those that have been held for an extended period. According to Ark, Bitcoin’s network liveliness, hovering around 60% since early 2018, indicates that approximately 40% of its total supply is effectively out of circulation. This data has led to price targets that are about 40% higher than previous models.
Ark Invest’s report suggests a bear case scenario, meaning the most pessimistic outlook, where Bitcoin’s price could drop to around $500,000 within the next five years. In contrast, they expect that factors such as institutional adoption, Bitcoin’s identity as “digital gold,” and ongoing interest from corporate treasuries would fuel its potential rise to $2.4 million.
Interestingly, Ark’s predictions aren’t isolated. Other prominent figures in the crypto sphere have also weighed in on Bitcoin’s future. For instance, Michael Saylor, the Chairman and co-founder of MicroStrategy, recently predicted that Bitcoin could ultimately reach $13 million per coin over the next two decades. Meanwhile, Coinbase’s CEO Brian Armstrong has posited that Bitcoin may reach “multiple millions” as its market matures.
As for the current market, Bitcoin has recently crossed $95,000, marking its highest value in the last two months, though it still falls short of the January peak of nearly $109,000. These astronomical price forecasts highlight the ongoing optimism surrounding crypto investments, despite the volatile nature of the market.
