Yassine Elmandjra doubled down on ARK Invest's bullish bitcoin predictions, claiming the asset's price could exceed $1 million in the years to come.
Here’s Why ARK Invest Analyst Maintains Bitcoin at $1 Million PredictionYassine Elmandjra doubled down on ARK Invest’s bullish bitcoin predictions, claiming the asset’s price could exceed $1 million in the years to come.
Yassine Elmandjra – analyst at ARK Invest – believes bitcoin’s valuation could skyrocket beyond $1 million per coin in the following years. Earlier in 2022, a research team of the company estimated that the market capitalization of the primary cryptocurrency could reach $28.5 trillion by 2030.Bitcoin and the broader cryptocurrency market have seen better days. During the past several months, the leading digital asset has lost a significant chunk of its valuation, while investors seem less enthusiastic about entering the ecosystem due to the ongoing negative macroeconomic situation.
And while numerous companies and individuals forecast a gruesome future for BTC, albeit in the short term, ARK Invest remains overly positive.for Bloomberg, Yassine Elmandjra – an analyst at the organization – outlined the cryptocurrency’s merits, including its ability to serve as a store of value, to conduct settlements, and to act as an insurance policy.
“I think there is an arms race — especially as we shift from the digital to the physical world — to be an asset independent of the traditional financial systems and traditional asset classes,” he concluded.that BTC can reach $1.36 million per coin by 2030.Michael Saylor – the Executive Chairman and former CEO of MicroStrategy – also thinks that the cryptocurrency can reach $1 million.that BTC does not have a price target, expecting it to soar “into the millions.