© Reuters
Investing.com – Some long-term predictions for the price of BTC are dizzying… And arguably the most impressive of these is Ark Invest’s forecast of BTC at $1 million, d here the year 2030.
However, despite the sharp fall in the cryptocurrency market in recent months which has silenced many overambitious forecasts, the management company led by Cathie Wood persisted yesterday, confirming its target of $1 million for the cryptocurrency.
Yassine Elmandjra, an analyst at Ark Investment Management indeed said in an interview with Bloomberg yesterday that there is still a significant opportunity to be found in Bitcoin, reiterating Ark’s prediction that BTC will exceed $1 million per unit. in the years to come.
“When we look at bitcoin’s potential, we segment it into multiple use cases – everything from competing as a store of digital value, to a settlement network, to an insurance policy against arbitrary seizure of assets,” he explained.
“When you stack each use case on top of each other, you get an opportunity of around $28 trillion, which translates to over $1 million per bitcoin,” he explained.
“When you look at bitcoin as a strategic asset, a non-sovereign, censorship-resistant currency, competing with central banks and fiat currencies, with the supply of bitcoin capped at 21 million, I think there’s an arms race – especially as we move from the digital to the physical world – to be an asset independent of traditional financial systems and traditional asset classes,” he also explained in the interview.