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ARK report claims that BTC will go to $1M and ETH to $180,000 by 2030

Updated: Aug 31, 2024
Published: Jan 27, 2022
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ARK Investment Management LLC, an American investment management firm, released a report in which the firm claimed that Bitcoin will reach $1 million by 2030 despite the bearish downtrend that it is facing right now. 

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Straight from the ARK report

The ARK report was titled “Big Ideas 2022,” which proves that the Cathy Wood-backed firm is still quite bullish on cryptocurrencies, mainly Bitcoin and Ethereum. As per the report, the world’s biggest cryptocurrency is expected to hit a price tag of $1 million by the end of 2030. 

Furthermore, the ARK report also claims that Ethereum will reach a market cap of $20 trillion during the same time. The total supply of ETH is capped at 120 million, and roughly, ETH is expected to burn 1 million coins annually, raising the prices. By the end of the decade, as ETH pushed to ETH 2.0, the supply will be reduced to 110 million, which would mean that ETH would be at a price of $180,000, as per the report from ARK.

Bitcoin and Ethereum represent the future

ARK investment has maintained a bullish stance on cryptocurrencies. The firm had recently applied with the SEC for a Bitcoin spot ETF, although none of the applications for a Bitcoin spot ETF have been approved. The investment firm made a bold remark in its Big Ideas 2022 and said:
“Bitcoin’s market capitalization still represents a fraction of global assets and is likely to scale as nation-states adopt it as legal tender. According to our estimates, the price of one Bitcoin could exceed $1 million by 2030.”
The firm made a bold statement about Etheruem, which according to ARK, “could displace many traditional financial services, and its native token, Ether, could compete as global money.”

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