Bitcoin to $2.3 Million? ARK Invest Doesn’t Exclude This – U.Today

Bitcoin to $2.3 Million? ARK Invest Doesn’t Exclude This – U.Today

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Bitcoin to $2.3 Million? ARK Invest Doesn't Exclude This

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In its Big Ideas 2024 report, ARK Invest has unveiled significant insights into the future of Bitcoin, suggesting an optimal allocation proportion of 19.4% within the global investment portfolio. This marks a substantial increase from the 0.5% allocation observed in 2015, indicating growing recognition of Bitcoin’s role on the broader investment landscape.

The report posits that allocating just 1% of the $250 trillion global investable asset base to Bitcoin could potentially drive its price to $120,000. However, the more noteworthy projection arises with a 19.4% allocation, forecasting a potential price of $2.3 million. While these figures may raise eyebrows, they underscore the evolving perception of Bitcoin as a legitimate asset class.

What’s the Big Idea? ARK’s research is full of Big Ideas that will transform our lives and inform investment decisions. Take a look at how quickly the 14 technologies around which ARK has centered its research and investments are evolving and converging in #BigIdeas2024. https://t.co/Wrafi7Tiu7

— Cathie Wood (@CathieDWood) February 1, 2024

Highlighting key catalysts for Bitcoin in 2024, the report places a spotlight on the upcoming halving, expected in April. This event, occurring approximately every four years, historically coincides with the initiation of a bull market. The forthcoming halving will reduce Bitcoin’s inflation rate from ~1.8% to ~0.9%, potentially influencing its value.

Institutional acceptance also emerges as a crucial factor, with ARK anticipating a shift in perception from viewing BTC as a speculative instrument to recognizing it as a strategic investment in diversified portfolios. Notably, influential figures such as Larry Fink, CEO of BlackRock, have signaled a change in stance toward Bitcoin’s potential as a “flight to quality.”

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