Bitcoins Economy Destined to Become Multitrillion Dollar Says Investment Firm Ark Invest
Ark Invest’s Annual Report Talks about Groundbreaking Technologies & Their Benefits
As per the statistics shared by BitTribute.com Under the heading ‘Big Ideas 2023’, globally renowned investment firm, Ark Investment Management, published its annual report last week.
In this report, Ark Investment has discussed first of all the technological breakthroughs existing in the world.
According to Ark Investment’s analysts, these groundbreaking technologies have created a window of opportunity for businesses and markets to grow exponentially.
In addition, the report also discussed in detail hotly debated subjects of Bitcoin, blockchain, artificial intelligence (AI), decentralized finance, crypto wallets, etc.
Report Predicts 1.5 Million Dollar Price for a Bitcoin
As regards Bitcoin, the investment firm’s analysts suggested that the long-term opportunity of Bitcoin is improving and strengthening every day.
They claimed that Bitcoin’s network and its core fundamentals have subsequently grown stronger over time. While Bitcoin holders have developed the understanding of keeping the coins on a long-term basis.
Ark Investment’s analysts then opined that these are the traits that have substantially elevated the lead crypto coin in the global markets.
Furthermore, they opined that Bitcoin’s elevation has unilaterally improved transparency and tracking of audits of the coin’s value progression.
Ark Investment’s analysts then gave three Bitcoin price forecasts in the report. (It may be noted that in 2022’s annual report of Ark Investment, the investment firm gave only one Bitcoin price prediction.)
In its recent predictions, Ark Investment is of the view that by the year 2030, Bitcoin’s price would be roughly around $285,000. This prediction has been classified as a ‘bear case Bitcoin prediction’ by investment firm analysts.
In the second prediction, which is named ‘base case Bitcoin prediction’, the firm estimates BTC’s price to be $682,800. However, for this prediction, the analysts did not give any specific timeline for it to become true.
Investment Firm’s CEO on Bitcoin
Cathie Wood, who is the CEO of the investment firm, is one of the biggest proponents of Bitcoin.
A week ago, she talked to Bloomberg while representing her firm’s point of view on the lead crypto coin.
During the interview, she explained Ark Investment’s optimism about Bitcoin and why the firm always seems so bullish about Bitcoin.
She opined that because of the pandemic, crises such as ‘hyperinflation’ have erupted which are causing catastrophic impacts on global economies.
She further suggested that against hyperinflation, people are out in the streets staging protests worldwide.
Wood then questioned what is going to happen to these affected people and who would provide them with insurance against hyperinflation.
She then answered her own question by suggesting that ‘of course, they would need something other than ordinary fiat, perhaps Bitcoin’.
According to Ark Investment’s CEO, Bitcoin is capable of supplying the required insurance policies to people seeking shelter against hyperinflation.
She warned that hyperinflation would otherwise confiscate all of their savings and wealth.
Third BTC Prediction
As regards the third prediction, the investment firm was of the view that Bitcoin’s economy is destined to be a multi-trillion dollar economy.
It further opined that once the Bitcoin supply is over, the coin would then be sold at a whooping price of over $1.49 Million.
These predictions of Bitcoin are hence now part of Ark Investment’s 2023’s annual report.
However, the majority of economists and financial experts have unilaterally disagreed with all three predictions of Ark Investment regarding Bitcoin.