- Cathie Wood’s Ark Invest has raised its Bitcoin bull-case forecast to $2.4 million by 2030, driven by rising institutional adoption and Bitcoin’s role as “digital gold.”
- Hitting this target would require a 2,400% surge, pushing Bitcoin’s market cap to an unprecedented $49 trillion.
In a bold revision of its Bitcoin forecast, Cathie Wood’s Ark Invest has raised its bull-case price target for the cryptocurrency to an eye-watering $2.4 million by 2030. The update, revealed in an April 24 report, marks a 60% increase from Ark’s previous high-end projection of $1.5 million.
Ark Research analyst David Puell explained that the new estimate stems from an experimental model based on Bitcoin’s potential market penetration across various financial sectors. According to the report, Bitcoin would need a compound annual growth rate (CAGR) of about 72% from December 2023 through the end of the decade to meet this ambitious target.
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“Institutional investment contributes the most to our bull case,” Puell noted, highlighting that Bitcoin could achieve a 6.5% penetration rate into the $200 trillion financial market — excluding gold — if adoption trends accelerate. Additionally, Bitcoin’s growing reputation as “digital gold” plays a key role in Ark’s forecast, with projections that the cryptocurrency could eventually capture up to 60% of gold’s $22 trillion market cap.
Ark’s base-case forecast now stands at $1.2 million per Bitcoin by 2030, while the bear-case sits at a still-impressive $500,000. Other factors, including adoption by nation-states and corporations for treasury reserves, also support the lofty projections.
Puell emphasized that Bitcoin’s fixed supply and the phenomenon of lost coins are underrepresented in most valuation models, suggesting there’s even more upside potential than commonly assumed.
Currently trading around $95,151, Bitcoin would need to skyrocket by over 2,400% to hit Ark’s $2.4 million target — a leap that would swell its market cap to an astonishing $49 trillion, dwarfing the combined GDPs of the United States and China.
While Ark Invest’s bullish stance underscores their unwavering confidence in Bitcoin’s future, whether the crypto giant can achieve such astronomical heights remains the million — or perhaps the million-Bitcoin — question.
