Cathie Wood's Ark Sees Bitcoin Joining Trillion Dollar Club By 2030 — Here Are Its Bearish, Average And Bullish Price Views

Cathie Wood's Ark Invest Management has released its seventh edition of the ‘Big Ideas 2023’, which suggests that apex crypto Bitcoin BTC/USD is on a trajectory that could see it become a multi-trillion dollar market in the coming years.

What Happened: This comes at a time when Bitcoin gained over 42% in the last 30 days and continues to hold the $23,000 mark.

According to Ark research, the price of Bitcoin could exceed $1 million by 2030, a target Wood has predicted time and again.

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Ark’s research presents three potential scenarios for the market by 2030: a bearish, average, and bullish forecast. If the market is bearish, research shows that Bitcoin could reach a price of $258,500 by 2030. In the event of an average or base market, Bitcoin is estimated to reach $682,000, and if the market is bullish, then BTC could potentially reach $1.48 million by 2030.

The research adds that despite five drops of more than 75% since its inception in 2009, Bitcoin has still outperformed every major asset class, such as gold, stocks, and global debt, over long-term investment horizons.

Price Action: At the time of writing, BTC was trading at $23,105, up 1% in the last 24 hours, according to Benzinga Pro.

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