October 12, 2022

Top crypto analyst at Ark Invest predicts bitcoin will reach $1 million by 2030

Top Ark Investment Management analyst Yassine Elmandjra sits firm on the company’s $1 million bitcoin prediction.

Cathie Wood, CEO and CIO of Ark Invest, had earlier predicted bitcoin could reach $1 million by 2030

Bitcoin reached its all time high of nearly $70,000 in Novembwe 2021. 

Despite bitcoin being  down nearly 60% to around $19,000 this year, top crypto analyst at Ark Invest stands firm on the $1 million prediction.

Bitcoin is competing as a digital store of value, as a settlement network, as an insurance policy against arbitrary asset seizure, the analyst explained.

"When you stack every use case one on top of another, you come to about a 28 trillion-dollar opportunity, which translates to more than a million dollars per Bitcoin,” Elmandjra added.

Earlier, Tim Draper predicted that bitcoin would reach $250,000 by the end of this year or early 2023.