ARK Invest Report: Bitcoin Price Predicted to Reach $1 Million by 2030

Odaily星球日报 · 2023-02-01T10:05:01.000Z

Odaily Planet Daily News ARK Invest stated in its "2023 Big Ideas" research report that despite the severe recession, public blockchains continue to give birth to multiple revolutions, one of which is Bitcoin. In ARK’s view, despite a turbulent 2022, Bitcoin’s fundamentals are sound, so it is expected to reach $1 million before the end of 2030. ARK writes: “The contagion caused by centralized counterparties has enhanced Bitcoin’s value proposition: decentralization, auditability, and transparency. Its network fundamentals have strengthened, and its holder base has become more long-term focused. ARK supports this claim by pointing to higher hashrate, long-term holder supply, and non-zero balances compared to previous recessions. ARK said that due to this solid fundamentals, Bitcoin continues to outperform traditional asset classes. Looking at the five-year compound annual growth rate, Bitcoin is up an average of 272%, while global stocks are up 6.1%, global bonds are yielding 1.4%, and gold is up 2.2%. (CoinDesk)

Odaily Planet Daily News ARK Invest said in its "2023 Big Ideas" research report that despite the severe recession, public blockchains continue to breed multiple revolutions, one of which is Bitcoin. In ARK's view, despite the turbulence in 2022, Bitcoin's fundamentals are good, so it is expected to reach $1 million before the end of 2030. ARK wrote: "The contagion caused by centralized counterparties enhances Bitcoin's value proposition: decentralization, auditability, and transparency. Its network fundamentals are strengthened and its holder base has become more focused on the long term." ARK supports this statement by pointing to higher hash rates, long-term holder supply, and non-zero balances compared to previous recessions. ARK said that due to this solid fundamentals, Bitcoin continues to outperform traditional asset classes. From a five-year compound annual growth rate perspective, Bitcoin has risen by an average of 272%, while global stocks have risen by 6.1%, global bonds have yielded 1.4%, and gold has risen by 2.2%. (CoinDesk)