Cathie Wood: Bitcoin price could exceed $1 million by 2030

The firm ARK Investment Management, led by Cathie Wood, predicts that the price of bitcoin could exceed $1 million by 2030, as the global use of cryptocurrencies is still in its early stages, Golden Finance reported. ARK analyst Yassine Elmandjra wrote in the company’s “Big Ideas 2022” outlook report released on Tuesday: “Bitcoin’s market capitalization remains a small fraction of global assets and is likely to expand with national adoption as legal tender. ARK In its Bitcoin outlook, it added that the cryptocurrency is taking market share as a global settlement network. According to ARK research, Bitcoin’s cumulative transfer volume has grown by 463% in 2021, and its annual settlement volume has surpassed Visa’s annual payment volume. Technological advancements such as the Taproot upgrade and the Lightning Network could also help Bitcoin scale. Institutional ownership of Bitcoin will also expand, according to ARK. Cathie Wood has previously predicted that Bitcoin will reach $500,000 by 2026. (Coindesk )