Ark Invest Doubles Bitcoin 2030 Price Target to $2.4 Million

Ark Invest, led by Cathie Wood, has revised its bull market price prediction for Bitcoin, setting a new target of $2.4 million by 2030. This adjustment comes after the adoption of a more aggressive experimental model, which considers Bitcoin's circulating supply, excluding lost or long-term held bitcoins. The previous prediction, based on the institution's initial model, was around $1.5 million.

The latest report, released on Thursday, highlights that the new bull market price prediction is underpinned by an approximate 72% compound annual growth rate (CAGR) for Bitcoin from the end of 2024 to the end of 2030. According to the analyst's forecast, the base case scenario predicts a Bitcoin price of $1.2 million, with a CAGR of 53%, while the bear market scenario estimates a price of $500,000, with a CAGR of 32%.

This revision underscores Ark Invest's confidence in Bitcoin's long-term potential, despite the volatility and uncertainties in the cryptocurrency market. The institution's adoption of a more aggressive model suggests a bullish outlook, driven by factors such as increasing institutional adoption, technological advancements, and regulatory clarity. However, it is important to note that these predictions are based on specific assumptions and models, and the actual price of Bitcoin may vary significantly.

Ark Invest's revised price target for Bitcoin reflects a growing trend among institutional investors who are increasingly viewing cryptocurrencies as a viable asset class. The institution's analysis and predictions are closely watched by market participants, as they provide insights into the potential future trajectory of Bitcoin and other digital assets. However, investors should exercise caution and conduct their own research before making investment decisions based on these predictions.