RK Investment Management, the firm led by star fund manager Cathie Wood, predicts that bitcoin’s price could exceed $1 million by 2030 as the cryptocurrency’s global usage is still only in its early days.
“Bitcoin’s market capitalization still represents a fraction of global assets and is likely to scale as nation-states adopt [it] as legal tender,” ARK analyst Yassine Elmandjra wrote in the firm’s “Big Ideas 2022” outlook report, which was released on Tuesday.
Last year, Wood herself predicted that bitcoin would reach $500,000 by 2026.
