ARK Predicts Bitcoin at $1.5M by 2030

ARK Invest, led by Cathie Wood, has predicted that the price of Bitcoin (BTC) will reach $1.5 million by 2030. This bullish forecast is part of the firm's optimistic scenario for the largest cryptocurrency by market capitalization. If the prediction holds true, it would represent a staggering 1,465% increase from the current price of $95,800.

ARK Invest's worst-case scenario sees Bitcoin increasing to $300,000 within the next five years, while its base case scenario has BTC trading at $710,000 by the start of the next decade. The firm attributes this potential growth to increased adoption as digital gold, rising institutional investment, and a tightening supply.

ARK Invest has previously hailed the advent of spot Bitcoin exchange-traded funds (ETFs) as a "game-changer" for the crypto sector. The firm notes that these ETFs attracted over $4 billion of inflows on their first day of trading, setting a record high for ETF launches. Additionally, corporate interest in Bitcoin has surged, with public companies now holding over $55 billion worth of BTC, a fivefold increase since 2023. ARK Invest also highlights Bitcoin's position as the most decentralized and transparent monetary asset in history as a key reason for investors to remain bullish on the crypto.

The price of BTC has gained 113% over the last 12 months, and has risen 26.06% in the last 12 weeks. While most Wall Street firms do not offer ratings or price targets on Bitcoin, the cryptocurrency's recent performance suggests a strong bullish trend.