Cathie Wood’s ARK Invest has unveiled massive price predictions for Bitcoin (BTC) and Ethereum (ETH) for 2030, less than 8 years away.
In the new 2022 edition of its Big Ideas Report, ARK notes that Bitcoin has a relatively tiny market cap compared to major asset classes like global real estate ($220 trillion), global bonds ($124 trillion), and gold ($10 trillion).
With Bitcoin’s small size in mind, ARK says that BTC has huge upside potential over the remainder of the 2020s.
“According to our research, Bitcoin’s market capitalization could scale more than 25-fold in the next decade, with each exceeding $1 million in value.”
ARK gives an exact price of estimation of $1,360,000 BTC, which is a market cap of $28.5 trillion. According to ARK, this price appreciation would be fueled largely by investors storing Bitcoin as digital gold, corporations stocking their treasuries with BTC, and institutional investments, among others.
The investment titan also has high hopes for Ethereum (ETH). ARK says that Ethereum stands to benefit immensely from the rise of decentralized finance (DeFi) and non-fungible tokens (NFTs), being the main ecosystem for both sectors.
Since its the “preferred collateral” in DeFi, ARK says ETH could reach a market cap of $20 trillion in the next 10 years, which suggests a price of roughly $180,000.
“According to our research, Ethereum could displace many traditional financial services, and its native token, ether, could compete as global money. As financial services move on-chain, decentralized networks are likely to take share from existing financial intermediaries.
The beneficiaries of this shift include Ethereum, the base protocol, and DeFi, the decentralized applications built on top of Ethereum. As the preferred collateral in DeFi and the unit of account in NFT marketplaces, ether (ETH) has the potential to capture a portion of the $123 trillion in global M2.”
The full report from ARK can be read here.
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The post Cathie Wood’s Ark Invest Makes Massive 2030 Prediction for Bitcoin (BTC) and Ethereum (ETH) – Here’s Their Target appeared first on The Daily Hodl.
