Cathie Wood’s Ark Invest Predicts Bitcoin Could Exceed $1M by 2030

Cathie Wood’s Ark Invest Predicts Bitcoin Could Exceed M by 2030
ARK Investment Management, the firm led by star 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,” wrote ARK analyst Yassine Elmandjra in the firm’s “Big Ideas 2022” outlook report, which was released on Tuesday.ARK added in its bitcoin outlook that the cryptocurrency is taking market share as a global settlement network. According to ARK’s research, bitcoin’s cumulative transfer volume increased by 463%…