$BTC

At ARK Invest, they have also updated their more "conservative" scenarios. Now, in their "base" outlook, they see Bitcoin at 1.2 million dollars (previously it was at 710,000), and even in their "bearish" scenario (bearish!) they place it at half a million dollars (previously 300,000). Just imagine the "bearish"! Half a million dollars for one Bitcoin!

And what is the secret sauce behind these out-of-this-world figures? According to ARK analysts, the key lies in mass adoption by big capital, the traditional financial institutions, and also in the growing idea that Bitcoin is going to become the new "digital gold." That store of value that everyone will rush to when things get tough.

To reach these conclusions, ARK analysts started crunching numbers. They imagined the total market size that Bitcoin could aspire to, the speed at which people and companies will truly start using it, the piece of that pie that Bitcoin could claim, and even the total amount of bitcoins that will be in circulation by then. All well calculated!

According to their calculations, the key to reaching that 2.4 million lies in big institutions falling madly in love with Bitcoin and pouring obscene amounts of money into it. They estimate that Bitcoin could reach a slice of 6.5% of the global financial market.

And the comparison with gold is fundamental in their analysis. They believe that Bitcoin has the potential to steal up to 60% of its shine from the golden metal, becoming the preferred refuge for those looking to protect their capital.

BTC

95,200.15

+0.6%