ARK Invest, the investment firm led by Cathy Wood, is making strong predictions for Bitcoin's future, anticipating that it could reach $2.4 million per Bitcoin by 2030. The firm has significantly raised its Bitcoin bull case target, undertaking aggressive modeling to come to this figure. Bitcoin's potential surge is seen as being fueled by a huge institutional demand, thus altering ARK's previous bear case of Bitcoin standing at $300,000 by 2030.
ARk Invest's predictions tie into their wider investment decisions, with recent acquisitions of $26.6 million in Coinbase shares and increasing their total COIN holdings to a staggering $448,700,000. Their purchase has signified a growing investment trend of buying the coinbase dip, with Wood's ARK taking full advantage of the market sell-off. ARK's investment stakes also extend into Solana, another blockchain-based platform, via 3IQ’s staking ETF. The firm remains cautious about meme-coins, as Wood has warned about potential volatility with such currencies.
Alongside their bullish stance, ARK Invest continues to voice concerns about a potential recession and the future of the global economic landscape. Despite these concerns, the firm persists in its hearty support for cryptocurrency, with Cathy Wood projecting its continual increase in adoption as well as as a strong factor in establishing a 'new Bretton Woods' amidst global currency uncertainty.
ARK Coin News Analytics from Wed, 09 Oct 2024 07:00:00 GMT to Wed, 30 Apr 2025 15:52:29 GMT -
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