ARK Invest: Why Bitcoin Could Be Worth $1 Million Per Coin By 2030

ARK Invest, the brainchild of savvy investor Cathie Wood, has had a rough go over the past few months. The flagship fund ARKK is down nearly 60% from it’s record high last year, however Wood and her team of analysts aren’t stopping their full-focus on innovative and forward-thinking investments – even when fundamental investments are running the show. This week was host to ARK’s ‘Big Ideas Summit,’ and ARK crypto analyst Yassine Elmandjra supplemented that material with a boisterous bitcoin tweet that will be music to BTC maxi’s ears. Cathie Wood & ARK Invest: Notorious Bulls Elmandjra’s tweet, which can be found below, showcases how a single BTC unit could hit $1M in value, with a couple prime assumptions: The price of a single bitcoin could exceed $1 million by 2030. We are still early. pic.twitter.com/rvja2h2vi5 — Yassine Elmandjra (@yassineARK) January 25, 2022 Let’s take a look at that graphic specifically to drill down on the assumptions being made here, and why they’re important: The core key assumption here, of course, is the staggering growth in bitcoin’s market cap over the next 9 years. In this model, the ARK team is projecting growth from a current market cap of $1.1T to a $28.5T market cap. How does this scale? According to an October 2021 report from securities trade group SIFMA, the U.S. equity markets carry a market cap around $50T &#82...