Bitcoin (BTC) and cryptocurrencies It has been under the influence of the bear market for a long time and experienced sharp decreases in this process.
Due to the decreases experienced, large sales were seen in BTC.
However, despite these sales, Ark Invest analyst Yassine Elmandjra said that Ark Invest is behind its prediction that the price of Bitcoin will exceed $ 1 million.
For Cathie Wood, founder of Ark Invest, leading cryptocurrency earlier this year bitcoinHe predicted that the price of ‘s would exceed $1 million by 2030.
However, the Fed’s aggressive monetary policy has caused investors to turn away from risky assets such as cryptocurrencies and BTCThere were mass sales.
Speaking to Bloomberg TV about it Yassine Elmandjra, He said that despite BTC’s poor performance this year and the big drops it has experienced, there is still a significant opportunity in Bitcoin.
Ark Invest’s BTC Stating that he is behind his 1 million dollar estimate for the company, the analyst said that these views are still valid.
“When we look at the potential of Bitcoin, we break it down by use cases.
We look at all kinds of uses as a digital store of value, from competing with other investment vehicles, to a payment network, to an insurance policy against arbitrary seizure of assets.
And when you stack each use case, you get an opportunity of about $28 trillion, which is more than $1 million in value per Bitcoin.”
Yassine Elmadjra stated that she is also optimistic about Bitcoin’s long-term potential.It is necessary to look at Bitcoin as a strategic asset, a non-sovereign currency, a currency that competes with central banks and fiat currencies.” said.
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