Cathie Wood’s Ark Invest Predicts Bitcoin Could Exceed $1M by 2030

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ARK Investment Management, the firm led by star manager Cathie Wood, predicts that bitcoin’s price could exceed $1 million by 2030 as the cryptocurrency’s global usage is still only in its early days.

“ Bitcoin ( $75,965.00 ) ’s market capitalization still represents a fraction of global assets and is likely to scale as nation-states adopt [it] as legal tender,” wrote ARK analyst Yassine Elmandjra in the firm’s 2022 outlook report, which was released on Tuesday.

ARK added in its Bitcoin ( $75,965.00 ) outlook that the cryptocurrency is taking market share as a global settlement network. According to ARK’s research, bitcoin’s cumulative transfer volume increased by 463% in 2021, and its annual settlement volume has surpassed Visa’s annual payments volume.

Technological advancements such as the Taproot upgrade and Lightning Network may also help Bitcoin ( $75,965.00 ) to scale. And institutional ownership of Bitcoin ( $75,965.00 ) will also broaden, according to ARK.

Last year, Wood herself predicted that Bitcoin ( $75,965.00 ) would reach $500,000 by 2026.

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