Ark Invest now predicts Bitcoin could hit $2.4 million per coin by 2030, while the bear case is set at $500,000. Their updated model considers the active supply of Bitcoin, indicating that much of it is vaulted. Other crypto leaders also foresee significant price increases for Bitcoin in the future.
Ark Invest, led by prominent investor Cathie Wood, has made waves in the crypto world with its latest Bitcoin price prediction. The firm claims that Bitcoin could soar to a staggering $2.4 million per coin by 2030. Released just yesterday, this forecast marks a significant update from Ark’s previous estimates found in their annual Big Ideas report, which analysed potential market reach and penetration rates.
In this report, Ark Invest has taken a methodical approach, using new models that assess Bitcoin’s ‘active’ supply—essentially taking into account the coins that are currently circulating and disregarding those that are lost or held long-term. The document indicates that Bitcoin’s network activity has remained steady at around 60% since 2018, implying that nearly 40% of the supply is effectively ‘vaulted’.
Through this lens, Ark outlines two contrasting scenarios: on the downside, the bear case settles at about $500,000 per Bitcoin within the next five years, while the more optimistic bull case sees the price hitting $2.4 million. The firm attributes these predictions to several factors, including Bitcoin’s perception as a form of digital gold, the growing adoption of spot ETFs by institutional investors, and emerging markets looking for a secure asset.
Interestingly, Ark isn’t alone in its bullish outlook on Bitcoin’s future. Michael Saylor, co-founder and Strategy Chairman of a key crypto company, suggested that Bitcoin might reach an unimaginable $13 million in the coming two decades. Moreover, Coinbase’s CEO Brian Armstrong hinted in January that Bitcoin could enter the “multiple millions price range” soon.
For context, Bitcoin reached a price high of $95,000 earlier this week, marking its first time crossing that threshold in about two months. However, it’s crucial to note that this is still a dip from its record-high of nearly $109,000 set earlier this year in January.
