Cathie Wood, predicts that by 2030, the price of bitcoin will have surpassed $1 million.

Because bitcoin’s global popularity is still in its early stages, ARK Investment Management, led by star manager Cathie Wood, predicts that by 2030, the price of bitcoin will have surpassed $1 million.

 

“Bitcoin’s market value is still a fraction of global assets, but it is expected to scale if nation-states recognize [it] as legal cash,” ARK analyst Yassine Elmandjra wrote in the firm’s “Big Ideas 2022” outlook report, which was released on Tuesday.

 

According to ARK’s bitcoin forecast, the cryptocurrency is increasing market share as a global settlement network. According to ARK’s study, Bitcoin’s cumulative transfer volume increased by 463 percent in 2021, and its yearly settlement volume has surpassed Visa’s annual payments volume.

 

Technological advancements like the Taproot upgrade and the Lightning Network may help Bitcoin scale.

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