American investment management firm Ark Investment has reiterated its claim that the price of Bitcoin (BTC) will reach $1 million by 2030.
Yassine Elmadjra, an analyst at the investment company, defended the claims that the BTC price, in which the company also invests, will be $ 1 million. Elmandjra, who connects the basis of the allegations to the global economy, stated that this will be better understood in the coming period. According to the investment analyst, cryptocurrencies will take a more active role in the coming years.
Ark Investment Maintains Bitcoin Maximism
The claim that the price of Bitcoin, the pioneer of cryptocurrencies, could be $ 1 million, was first put forward by the company’s fund manager, Cathie Wood. Defending Wood’s claims, Elmandjra underlined that as a company, they approach cryptocurrencies with a maximalist perspective. The strong names of the company think that the price of BTC will reach $ 1 million in 2030.
This idea, which was put forward by the company and is still defended, contains a number of reasons behind it. The price of BTC and other risk assets has plummeted over the past few months as the Fed and other central banks have raised interest rates to curb inflation. According to the company, looking at the future use case, people still have a more significant opportunity to invest in BTC.
Elmadjra said:
When we look at the potential of Bitcoin, we can see it in several uses. These are things like being a digital store of value, having a payment network, having an insurance policy against loss of assets. When you stack each use case, you get an opportunity of about $28 trillion. That means more than a million dollars worth per Bitcoin.
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