The management of Ark Investment has made huge predictions regarding Bitcoin, according to them, the price of Bitcoin could pass $1 million per coin in 2030. They further added that Bitcoin has the potential to change the monetary history by providing financial freedom and empowerment in a global, fair, and distributed way.
In a recent report by Ark investment, Yassine Elmandjra, the firm’s analyst, explained, “With Bitcoin market reaching its all-time high in 2021, the Bitcoin network fundamentals remain healthy”.
The analyst also detailed that at present the market capitalization of Bitcoin is a fraction of global assets, but this will change as nations and states will start adopting Bitcoin as a legal tender.
After El Salvador, adopted Bitcoin as legal tender last year, there have been many speculations about more countries joining in this foray.
The reasons for the increase in the prices of Bitcoin in coming times were also discussed in the report. Network upgrades and growing adoption of the crypto token were the primary reason discussed. The firm also added that the implementation of cleaner solutions in Bitcoin mining will play a crucial factor in its mass adoption
Disclaimer: The article should not be considered as any financial advice. It is advisable to conduct thorough research before investing.
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