Cathie Wood's Ark Invest Makes Boldly Bullish #Bitcoin Price Prediction

Prominent
technology investor Cathie Wood’s Ark Invest released an updated Bitcoin price
target, outlining a path for the top cryptocurrency to reach a price of as much
as $2.4 million per coin by 2030.

Released on Thursday, the
latest report levels up Ark’s previous price predictions from its annual Big
Ideas report, which used total addressable markets (TAM) and penetration rate
assumptions to determine a price prediction for Bitcoin.

Now, the firm combined its previous
predictions with experimental modeling that considers Bitcoin’s “active”
supply—which discounts lost or long-held coins.

“Bitcoin’s network liveliness has remained
near ~60% since early 2018. In our view, that magnitude of liveliness suggests
that ~40% of supply is ‘vaulted,’” the report reads. “On that basis, we arrive
at the following price targets, which are roughly 40% higher than our base model,
which does not account for Bitcoin active supply and network liveliness”