Bitcoin Destined to Break $1Million by 2030 Says Cathie Wood’s ARK Invest

Cathie Wood’s ARK Investment Management has released its “Big Ideas 2022” report on Tuesday where it predicts that Bitcoin can possibly break the $1 million price per coin by 2030.

Stating that the top cryptocurrency’s global usage is still its early days, ARK analyst Yassine Elmandjra noted:

According to ARK’s research, Bitcoin’s market share as a global settlement network is still rising with the asset’s cumulative transfer volume increasing by 463% in 2021. Its annual settlement volume has surpassed Visa’s annual payments volume.

ARK further points out in its report that institutional adoption of Bitcoin will continue and that innovative technologies built on Bitcoin’s network, such as Lightning Network and the recently implemented Taproot upgrade, aid in scaling of the currency.

The complete 14 transformative technologies that are nearing tipping points in the ARK 2022 Big Ideas Report are:

1. Artificial Intelligence
2. Digital Consumer
3. Digital Wallets
4. Public Blockchains
5. Bitcoin
6. Ethereum and DeFi
7. Web3
8. Gene Editing
9. Multi-Omics
10. Electric Vehicles
11. Autonomous Ride-Hail
12. Autonomous Logistics
13. Printing and Robotics
14. Orbital Aerospace