Ark Investment On Bitcoin – muggettedonroyal
Ark Investment On Bitcoin – muggettedonroyal
Ark Investment Management (Ark Invest) published its annual Big Ideas 2023 last week. The report “highlights the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow,” Ark Invest’s analysts explained. The topics discussed in the report include artificial intelligence (AI), digital wallets, public blockchains, bitcoin, and smart contract networks.
Regarding bitcoin, the Ark Invest analysts wrote:
We believe Bitcoin’s long-term opportunity is strengthening. Despite a turbulent year, Bitcoin has not skipped a beat. Its network fundamentals have strengthened and its holder base has become more long-term focused.
They emphasized: “Contagion caused by centralized counterparties has elevated Bitcoin’s value propositions: decentralization, auditability, and transparency.”
The investment management firm provided three different price predictions for bitcoin in this year’s Big Ideas report, instead of a single prediction offered in the previous year. The “bear case” prediction puts BTC at $258,500 by 2030 while the “bull case” prediction sees the price of the cryptocurrency reaching $1.48 million per coin. The firm also offered a “base case” price target for BTC of $682,800, using the assumptions deemed most likely to occur.
Ark Invest Expects Bitcoin to Become a Multitrillion-Dollar Market — Predicts BTC Price Could Reach $1.48 Million
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