#ARK unleashes the crypto Bomb
New target price for Bitcoin of $2.4 MILLION before 2030!
Will it be the end of the dollar?
ARK Invest, led by Cathie Wood, has drastically increased its bullish price target for #bitcoin by the end of the decade to the astounding figure of $2.4 million per #BTC
This revision, a 60% increase from its January 2024 estimate, is based on an updated analysis of Bitcoin's active supply, excluding lost coins or long-term holdings.
Its bullish forecast for Bitcoin at $2.4 million by 2030 implies a compound annual growth rate (CAGR) of 72% since last December.
In ARK's base case, it now estimates a BTC price of $1.2 million (CAGR of 53%), while its bearish case is set at $500,000 (CAGR of 32%).
📌 Driving Factors: These sectors include massive institutional investment, Bitcoin's role as superior "digital gold", its function as a safe haven in emerging markets, adoption by national states and corporations, and the flourishing ecosystem of on-chain financial services built on the Bitcoin network, explained ARK analyst David Puell.
