Bitcoin to $2.3 Million? ARK Invest Doesn’t Exclude This

Thu, 1/02/2024 – 7:57

Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

In its Big Ideas 2024 report, ARK Invest has unveiled significant insights into the future of Bitcoin, suggesting an optimal allocation proportion of 19.4% within the global investment portfolio. This marks a substantial increase from the 0.5% allocation observed in 2015, indicating growing recognition of Bitcoin’s role on the broader investment landscape.

Advertisement

The report posits that allocating just 1% of the $250 trillion global investable asset base to Bitcoin could potentially drive its price to $120,000. However, the more noteworthy projection arises with a 19.4% allocation, forecasting a potential price of $2.3 million. While these figures may raise eyebrows, they underscore the evolving perception of Bitcoin as a legitimate asset class.

Highlighting key catalysts for Bitcoin in 2024, the report places a spotlight on the upcoming halving, expected in April. This event, occurring approximately every four years, historically coincides with the initiation of a bull market. The forthcoming halving will reduce Bitcoin’s inflation rate from ~1.8% to ~0.9%, potentially influencing its value.

Institutional acceptance also emerges as a crucial factor, with ARK anticipating a shift in perception from viewing BTC as a speculative instrument to recognizing it as a strategic investment in diversified portfolios. Notably, influential figures such as Larry Fink, CEO of BlackRock, have signaled a change in stance toward Bitcoin’s potential as a “flight to quality.”

SOURCE

Leave a Comment

EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS EcDS