Bitcoin price of 1.5 million dollars approaching?

In theory, Bitcoin has huge potential if you are convinced that the digital currency has the potential to act as a world reserve currency. For example, if you consider that there are 62.5 million millionaires worldwide and only 21 million Bitcoin are coming into circulation, the potential is immediately apparent. Cathie Wood’s Ark Invest also has great expectations about the Bitcoin price.

Rate from 1 to 1.5 million dollars

Ark Invest expects a Bitcoin price of 1 to 1.5 million dollars for the year 2030. This forecast is mainly based on the inflow of institutional money. Institutional investors are the asset managers who manage the largest pots of money on earth.

If they invest 2.5 to 6.5 percent of their portfolio in Bitcoin, then according to Ark Invest, that should be enough to get Bitcoin to the price of $ 1 to 1.5 million.

“These are the past allocations they made to emerging assets like real estate in the 1970s and small businesses in the 1980s and 1990s,” said Ark Invest CEO Cathie Wood.

Ark Invest’s three predictions. Source: Ark Invest

The chart above shows Ark Invest’s three predictions for Bitcoin for the year 2030. In the most bullish scenario we move to $1.48 million, while in the most bearish scenario we are at $258,500. The latter is also not wrong in our opinion.

Positive sentiment

It is not surprising in itself that we are seeing these kinds of predictions again at this very moment. Bitcoin is currently doing great at a time when the traditional financial system is squeaking and creaking.

In that sense, the world is being given a crash course in Bitcoin and is learning that its money is not safe within the traditional banking system, while Bitcoin is always available and, in principle, there is no risk that the asset will simply disappear.

The only risk you run with Bitcoin is of course the price risk and that price can sometimes be quite volatile. At the moment, the price is mainly volatile upwards, but there have also been months in 2022 in which the price was mainly volatile downwards.

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