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HomeCrypto NewsMarketCathie Wood, Ark Invest Report Predicts Bitcoin Price Can Reach $1 Million, While Ethereum May Exceed $160K by 2030

Cathie Wood, Ark Invest Report Predicts Bitcoin Price Can Reach $1 Million, While Ethereum May Exceed $160K by 2030

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ARK Investment Management in a recent report today predicts that the price of bitcoin would surge above $1 million by 2030. 



According to the firm’s “Big Ideas 2022” outlook report prepared by ARK analyst Yassine Elmandjra, the world’s largest cryptocurrency value will soar in the next decade as more investors adopt the digital currency. 

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Furthermore, Elmandjra, who noted that bitcoin’s market capitalization is still a fraction of global assets, will experience massive growth in value as nations like El Salvador adopt it as a legal tender. 

The ARK report noted that the Bitcoin blockchain is gradually taking a significant percentage of the global settlement network. 

Notably, Bitcoin’s cumulative transfer volume last year surged by 463%, and the network’s annual settlement volume surpassed that of popular payment provider Visa.   

Bitcoin Above $1M

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ARK Invest has significant exposure in both cryptocurrencies via its investments in Grayscale Bitcoin and Ethereum Trust. 

Following its investments in the two largest cryptocurrencies by market cap, the firm has predicted that the price of both digital currencies will surge tremendously in the coming years. 

In September, Cathie Wood predicted that the price of a unit of bitcoin will hit $500,000 by 2026. However, both cryptocurrencies are far from achieving any of these predictions, as bitcoin is currently changing hands below $38,000 while ethereum is trading below $2,500. 

 

bitcoin price in 2030

Image Source: Ark Invest Report

The report highlights the use cases of bitcoin will increase over time:

  • Remittance Network: 50% of global remittances at 1.5x velocity
  • Emerging Market Currency: 10% of M2 (excludes top 4 countries)
  • Economic Settlement Network: 25% of US bank settlement volumes
  • Nation-State Treasury: 1% of total reserves
  • Seizure-Resistant Asset: 5% of global HNWI wealth
  • Institutional Investment: 2.55% of institutional asset base
  • Corporate Treasury: 5% of cash of S&P 500 companies
  • Digital Gold: 50% of gold’s total market capitalization

The report predicts that as use cases will grow it will help the assets to gain more market cap, At the current market cap of $1 Trillion Bitcoin was able to make an all-time high of $68789, the report assumes that when bitcoin will reach the market cap of $2.8T its price will be 133000 per BTC, with $4T market cap the price can go as high as $190,000/ BTC. With $5.5T market capitalization the price can reach $260,000 per BTC and by the end of 2030, the market cap of BTC can be as high as $28.5T where a single BTC will cost $1.36M Per Bitcoin.

Ethereum Market Cap may Exceed 20 Trillion By 2030

Cathie Wood’s ARK Investment report also made favorable predictions for the second-largest cryptocurrency by market capitalization. 

Per the report, Ethereum’s market capitalization, which currently sits at $292.8 billion according to data on Coingecko, will exceed $20 trillion in the next decade. 

With ARK Investment predicting that Ethereum market capitalization will exceed $20 trillion in 2030, a unit of ETH could sell around $168,000. 

eth market cap to exceed 20T by 2030
image source Ark Invest

The report writes:

“According to our research, Ethereum could displace many traditional financial services, and its native token, ether, could compete as global money.

As financial services move on-chain, decentralized networks are likely to take share from existing financial intermediaries. The beneficiaries of this shift include Ethereum, the base protocol, and DeFi, the decentralized applications built on top of Ethereum.

As the preferred collateral in DeFi and the unit of account in NFT marketplaces, ether (ETH) has the potential to capture a portion of the $123 trillion in global M2.”

 

 

 

 

 

 

 

 

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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