01-26-2022, 10:15 AM
Cathie Wood’s Ark Invest Predicts Bitcoin Could Exceed $1M by 2030
<!-- SC_OFF --><div class="md"><p><a href="https://www.coindesk.com/business/2022/01/25/cathie-woods-ark-invest-predicts-bitcoin-could-exceed-1m-by-2030/">https://www.coindesk.com/business/2022/01/25/cathie-woods-ark-invest-predicts-bitcoin-could-exceed-1m-by-2030/</a></p> <p>ARK Investment Management, the firm led by star manager Cathie Wood, predicts that bitcoin’s price could exceed $1 million by 2030 as the cryptocurrency’s global usage is still only in its early days.</p> <p>“Bitcoin’s market capitalization still represents a fraction of global assets and is likely to scale as nation-states adopt [it] as legal tender,” wrote ARK analyst Yassine Elmandjra in the firm’s "Big Ideas 2022" outlook report, which was released on Tuesday.</p> <p>ARK added in its bitcoin outlook that the cryptocurrency is taking market share as a global settlement network. According to ARK’s research, bitcoin’s cumulative transfer volume increased by 463% in 2021, and its annual settlement volume has surpassed Visa’s annual payments volume.</p> <p>Technological advancements such as the Taproot upgrade and Lightning Network may also help bitcoin to scale. And institutional ownership of bitcoin will also broaden, according to ARK.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/ShotBot"> /u/ShotBot </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/scqolr/cathie_woods_ark_invest_predicts_bitcoin_could/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/scqolr/cathie_woods_ark_invest_predicts_bitcoin_could/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p><a href="https://www.coindesk.com/business/2022/01/25/cathie-woods-ark-invest-predicts-bitcoin-could-exceed-1m-by-2030/">https://www.coindesk.com/business/2022/01/25/cathie-woods-ark-invest-predicts-bitcoin-could-exceed-1m-by-2030/</a></p> <p>ARK Investment Management, the firm led by star manager Cathie Wood, predicts that bitcoin’s price could exceed $1 million by 2030 as the cryptocurrency’s global usage is still only in its early days.</p> <p>“Bitcoin’s market capitalization still represents a fraction of global assets and is likely to scale as nation-states adopt [it] as legal tender,” wrote ARK analyst Yassine Elmandjra in the firm’s "Big Ideas 2022" outlook report, which was released on Tuesday.</p> <p>ARK added in its bitcoin outlook that the cryptocurrency is taking market share as a global settlement network. According to ARK’s research, bitcoin’s cumulative transfer volume increased by 463% in 2021, and its annual settlement volume has surpassed Visa’s annual payments volume.</p> <p>Technological advancements such as the Taproot upgrade and Lightning Network may also help bitcoin to scale. And institutional ownership of bitcoin will also broaden, according to ARK.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/ShotBot"> /u/ShotBot </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/scqolr/cathie_woods_ark_invest_predicts_bitcoin_could/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/scqolr/cathie_woods_ark_invest_predicts_bitcoin_could/">[comments]</a></span>Kind Regards R