#bitcoin Cathie Wood's Ark Invest Makes Boldly Bullish Bitcoin Price Prediction

Ark Invest sees a path for Bitcoin to reach $2.4 million per coin by 2030. Here's why Cathie Wood's firm thinks it could surge so high.Ark Invest predicts that Bitcoin could hit a price of as much as $2.4 million per coin by 2030.

At worst, the firm predicts a bear case of around $500,000 in the next five years.Ark Invest predicts that Bitcoin could hit a price of as much as $2.4 million per coin by 2030.

At worst, the firm predicts a bear case of around $500,000 in the next five years.

Prominent technology investor Cathie Wood’s Ark Invest released an updated Bitcoin price target, outlining a path for the top cryptocurrency to reach a price of as much as $2.4 million per coin by 2030.

Released on Thursday, the latest report levels up Ark’s previous price predictions from its annual Big Ideas report, which used total addressable markets (TAM) and penetration rate assumptions to determine a price prediction for Bitcoin.

Now, the firm combined its previous predictions with experimental modeling that considers Bitcoin’s “active” supply—which discounts lost or long-held coins.

“Bitcoin’s network liveliness has remained near ~60% since early 2018. In our view, that magnitude of liveliness suggests that ~40% of supply is ‘vaulted,’” the report reads. “On that basis, we arrive at the following price targets, which are roughly 40% higher than our base model, which does not account for Bitcoin active supply and network liveliness”#BinanceAlphaAlert