Cathie Wood, one of the favorites of ARK Investment Management, bitcoin priceexpects to exceed $1 million by 2030. According to Wood, Bitcoin (BTC) is still at a very early stage in terms of worldwide adoption.
Last Tuesday, analyst Yassine Elmadjra published the “Big Ideas 2022” outlook report, in which he wrote that Bitcoin’s market cap is currently a small percentage of global assets. According to the report, BTC will increase its value even more as it is ‘legally’ recognized by more countries.
The Power to Push Bitcoin!
of ARK Investment Management Bitcoin predictionAccording to Bitcoin, BTC continues to gain market share as a worldwide settlement network. According to ARK’s study, Bitcoin’s cumulative transfer volume increased by 463% in 2021, with annual payment volume surpassing Visa’s annual payment volume.
Technological advances such as the Taproot update and the Lightning Network can help Bitcoin scale. Institutional ownership of Bitcoin will also continue to grow, according to ARK.
Actively managing a number of exchange-traded funds, ARK was founded in 2014 by Cathie Wood. Wood’s kind of crazy Bitcoin (BTC) The predictions are not new. Cathie Wood predicted last year that Bitcoin would reach $500,000 by 2026.
While Bitcoin’s rise has been welcomed by the crypto community, Wood’s words must be taken with some caution, as an increase in BTC will undoubtedly lead to a rise in the prices of other coins. ARK has a lot to gain from its Bitcoin pumping and their promise could certainly be to force the market in their favour.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.