ARK Invest raises price prediction for Bitcoin from 1.5 million to 2.4 million dollars in 2030

ARK Invest estimates that the price of Bitcoin could rise to between 500,000 and 2.4 million dollars by the end of 2030 as Bitcoin continues to be adopted by institutions and nations.

The billion-dollar asset management firm ARK Invest has increased its "bullish" price target for Bitcoin from 1.5 million dollars to 2.4 million dollars by the end of 2030, primarily due to institutional investors and Bitcoin increasingly being accepted as "digital gold".

ARK's "bear" and "base" scenarios for Bitcoin price

Research analyst David Puell of ARK stated in a report on April 24 that the bearish price targets have also risen to 500,000 dollars and 1.2 million dollars.

The bearish price targets and new base targets have been raised from ARK's previous Bitcoin price predictions of 300,000 dollars and 710,000 dollars on February 11.

ARK's price forecast is modeled based on the total addressable market (TAM) of Bitcoin, the penetration rate — the percentage of TAM that Bitcoin can capture in certain scenarios.

Puell, who estimates that Bitcoin will achieve a penetration rate of 6.5% into the 200 trillion dollar financial market in the best-case scenario (this figure excludes gold), stated: "Institutional investment contributes the most to our bullish trend".

Bitcoin's acceptance as "digital gold" is also a key factor contributing to this high estimate, as Puell estimates that it could capture up to 60% of the 18 trillion dollar market capitalization of gold (2024 figures) by the end of 2030 in the bullish scenario.