Ark Invest Predicts Bitcoin Price Soaring 5,000% until 2030, Interested in Collecting?

Liputan6.com, Jakarta Ark Invest CEO Cathie Wood continues to raise her Bitcoin (BTC) price forecast. At the recent Bitcoin Investor Day event in New York City, Wood raised his 2030 Bitcoin price estimate to USD 3.8 million or the equivalent of IDR 60.3 billion (assuming an exchange rate of IDR 15,892 per US dollar).

Quoted from Yahoo Finance, Wednesday (2/4/2024), this is Wood's highest prediction for Bitcoin from the previous figure, namely USD 1.5 million or the equivalent of IDR 23.8 billion. Considering the current price is around USD 70,000, that would be an incredible gain of 5,300% in just six years.

At first glance, this prediction sounds strange. However, there are two main catalysts that can ultimately make this happen.

Institutional Adoption

The main factor driving Bitcoin to previously unthinkable heights is stronger than expected institutional adoption. Simply put, large institutional investors are waking up to the idea of ​​Bitcoin as a standalone asset class worth including in their portfolios.

With the launch of a new spot Bitcoin exchange-traded fund (ETF), they now have a regulated way to invest in Bitcoin without having to directly participate in the crypto markets.

The influx of investors into new Bitcoin ETF venues since January has been nothing short of astonishing. The two top Bitcoin ETFs together have accumulated more than USD 25 billion or the equivalent of IDR 397.3 trillion in customer assets in just two months.

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