Cathie Wood-LED Asset Manager Ark Invest revised its Bitcoin price target for 2030, increasing the “bullcase” from $1.5 million to $2.4 million. According to an April 24th report by Ark’s David Puell, “Bear” and “Base” case scenarios have also been raised to $500,000 and $1.2 million, respectively.
These adjustments follow previous February revisions when forecasts were set at $300,000 and $710,000.
2030 Bitcoin Bull Case
The most recent forecasts are based on assumptions regarding the overall addressable market (TAM) and Bitcoin adoption.
According to the report, institutional investment is playing the biggest role in the ARK bull incident, with Bitcoin likely to win 6.5% of the $200 trillion global investment portfolio market by 2030.
In a more conservative scenario, ARK expects to adopt between 1% and 2.5%, suggesting that the long-term outlook for cryptocurrencies remains strong despite modest institutional interest.
The report highlights the narrative of “digital gold” as an important driver of adoption, assuming that BTC competes with the market value of gold without considering further growth in yellow metals.
Bitcoin’s multifaceted growth path
In emerging markets, Ark said it is seeing an important opportunity for Bitcoin to act as a hedge against inflation and currency devaluation, thanks to the accessibility of the population with internet access.
Adoptions for nation-states, led now by countries such as El Salvador and Bhutan, have been able to accelerate with policy approvals, particularly with US President Donald Trump’s executive order in favour of the US Bitcoin Reserve.
On the corporate side, Ark noted that the number of publicly traded companies holding cryptocurrency is on the rise, inspired by the famous investment game plan of the American Business Intelligence Company Strategy. As of the second half of 2024, 74 companies had accumulated about $55 billion in Bitcoin.
Finally, Ark continued to point out financial services in chains wrapped around Lightning Network and Bitcoin applications as a fast-growing sector that can further enhance BTC’s capital appeal.
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