Biotcoin price: Experts expect increase of “more than 25 times”

Deepak Gupta February 2, 2022
Updated 2022/02/02 at 8:00 AM

The US investment company Ark Invest was founded in 2014 by the financial analyst Cathie Wood. It makes targeted investments in innovative ideas and companies. Cryptocurrencies also play a not insignificant role. On Tuesday, January 25, Ark published its Big Ideas 2022. In this research report, the company sometimes also addresses possible developments in the Bitcoin rate one.

Bitcoin course for the next 10 years

According to the investment firm, Bitcoin could surpass $1 million by 2030. This is partly due to the fact that investors would continue to focus on the long-term value of bitcoin. The cryptocurrency’s market capitalization currently represents only a small fraction of the total value of global assets. However, in its report, Ark Invest predicts that the share will increase as other countries after El Salvador adopt bitcoin as legal tender.

“According to our research, Bitcoin’s market cap could increase more than 25x over the next decade, with each Bitcoin worth more than $1 million.”

Ark Invest

The Bitcoin price has suffered greatly over the past few weeks and months. It fell to a six-month low of around $33,000 largely on anticipation of tighter policy from the US Federal Reserve. However, the Ark research into different blockchain networks has shown that at least 13.5 million bitcoins have not been moved for more than 155 days. This indicates a long-term behavior pattern.

The Potential of Bitcoin

Bitcoin is also becoming more attractive for the private sector. Ark names Grayscale, Block.one, MicroStrategy and Tesla as concrete players. According to analyst Yassine Elmandjra, around eight percent of the circulating Bitcoin volume is owned by exchange-traded products, corporations, and governments.

“The base of institutional bitcoin holders appears to be broadening following the introduction of more regulated products and corporate and nation-state adoption.”

Ark Invest

Research shows that Bitcoin has the potential to change monetary history. It enables financial freedom and empowerment in a fair, global and distributed way. It remains to be seen whether the Bitcoin price will actually move in the predicted direction.

Source: Ark Invest

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