Investment firm Ark Invest has released its latest report, outlining a pathway for Bitcoin to reach $2.3 million. The report suggests that allocating 0.5% of investments in Bitcoin over five years would have been ideal for the best returns. On average, allocating about 4.8% to Bitcoin would have also worked well.
According to the report, in 2023, the optimal allocation in Bitcoin would have been around 19.4%. Furthermore, if a substantial portion of the $250 trillion global investable assets were invested in Bitcoin, it would greatly influence the price.
If people worldwide were to invest just 1% in Bitcoin, its price could reach $120,000. However, if a higher allocation of 19.4% were made, the price could soar to $2.3 million, according to Ark Invest.
The annual “Big Ideas” report from Ark Invest provides insights into emerging technologies and trends. Last year’s report highlighted how Bitcoin expanded its role as a global settlement network.
The report also discussed Bitcoin’s rebound from difficulties in 2022 and noted significant events in 2023 that contributed to its price increase. It highlighted Bitcoin’s function as a safeguard against counterparty risk and indicated that it exceeded its on-chain market average.
Ark Invest sees Bitcoin as a dependable risk-off asset and a top safe haven investment. CEO Cathie Wood has been a strong advocate for Bitcoin, calling it one of the most important investments of our lifetimes.
In conclusion, Ark Invest’s report outlines the potential for Bitcoin to reach $2.3 million and highlights its role as an investment with strong returns and a safe haven asset during market turmoil.
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