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Bitcoin Could Soar by 2,426% Over the Next 5 Years, According to Cathie Wood of Ark Invest
When it comes to Bitcoin (CRYPTO: BTC) price forecasts, the one investor who has my attention right now is Cathie Wood of Ark Invest. She is now predicting that Bitcoin will hit a price of $2.4 million by the year 2030.That's an eye-popping prediction, especially given Bitcoin's recent struggles to regain the $100,000 price level this year. Based on today's prices, a $2.4 million future price tag assumes that Bitcoin will soar by 2,426% over the next five years. So, is she right?For several years, Cathie Wood of Ark Invest has been using a building block valuation model for Bitcoin. Simply stated, she looks at six key areas where Bitcoin is showing signs of growth and then attempts to forecast how these areas are going to perform over the next five years. She then sums up the value of each of these key areas to arrive at a total valuation for Bitcoin.Continue reading
When it comes to Bitcoin (CRYPTO: BTC) price forecasts, the one investor who has my attention right now is Cathie Wood of Ark Invest. She is now predicting that Bitcoin will hit a price of $2.4 million by the year 2030.
That's an eye-popping prediction, especially given Bitcoin's recent struggles to regain the $100,000 price level this year. Based on today's prices, a $2.4 million future price tag assumes that Bitcoin will soar by 2,426% over the next five years. So, is she right?
For several years, Cathie Wood of Ark Invest has been using a building block valuation model for Bitcoin. Simply stated, she looks at six key areas where Bitcoin is showing signs of growth and then attempts to forecast how these areas are going to perform over the next five years. She then sums up the value of each of these key areas to arrive at a total valuation for Bitcoin.
