Report Reveals BTC Bullish and Bearish Scenarios
"Bullish Case of $1.2 Million This Year and $2.4 Million by 2030"
"Driving Forces of Bullishness: Institutional and Government BTC Adoption"
ARK Invest, led by CEO Cathie Wood, known as the 'Money Tree Sister', has set the maximum Bitcoin (BTC) price at $2.4 million by 2030, citing increasing institutional and government demand. ARK Invest has raised its 2030 bullish Bitcoin price by approximately 38%, from $1.5 million previously set in February.
ARK Invest's research team released their study on Bitcoin's bullish and bearish scenarios through a report on the 24th. The team determined Bitcoin's per-unit price based on its potential adoption and market circulation.
The research team set Bitcoin's potential prices at $1.2 million in a bullish scenario and $500,000 in a bearish scenario this year. These figures significantly exceed the previous reach prices of $710,000 and $300,000 announced by the same team in February.
The team noted that institutional investment is significantly contributing to Bitcoin's strength and projected that Bitcoin could attract about 6.5% of funds in the financial market. The report stated, "Institutional investment has greatly contributed to Bitcoin's bullish outlook" and estimated that "in the best-case scenario, Bitcoin could occupy approximately 6.5% of the $200 trillion financial market."
The team argued that based on the 'digital gold' concept, Bitcoin could occupy up to 60% of gold's market capitalization by the end of 2030. They emphasized that Bitcoin could absorb significant global funds as a refuge amid global financial instability.
The research team explained that "Bitcoin's primary use is capital accumulation" and that "Bitcoin provides developing countries and nations experiencing extreme inflation with the ability to protect their wealth."
They particularly noted that many countries, including the United States, have begun accumulating Bitcoin, and if this scenario succeeds, Bitcoin's market capitalization could reach $49.2 trillion, surpassing US GDP and gold's market capitalization.
If all of ARK Invest's bullish scenarios materialize, Bitcoin would need to achieve an annual growth rate of approximately 32-53%.
Reporter Seung-won Kwon ksw@blockstreet.co.kr
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