Bitcoin and Ethereum are among the best known cryptos and have been around for a while now. They have helped legitimize investment in cryptocurrencies and garner the most interest. In its latest report by Ark Invest, an investment firm in Florida, the prediction is that Bitcoin prices will hit the $1 million mark by 2030
According to the firm, Bitcoin makes up a fraction of the global investment assets. The firm’s report also expects Ethereum’s market cap to cross the $20 trillion market during the same period. Ark Invest’s founder has a bullish outlook for crypto and the two leading names in this sphere. The company’s report titled Big Ideas for 2022, presents a rosy picture for BTC and ETH. Ethereum’s current supply stands at 120 million and will burn approximately 1 million coins every year. This will happen when it reaches the Proof-of-Stake stage, which will then reduce supply to about 110 million. If this happens, ARK’s prediction of ETH prices would reach $180,000.
So, if you are an investor and buy Bitcoin at its current price of $37,800, you can expect a return 26 times higher by 2030. ARK Investments also manages ETFs and has assets worth $23.9 billion being managed by several experts. News is that the company homes to launch a BTC ETF soon.
Despite difficult market conditions, research done by Ark Invest indicates how Bitcoin adoption would grow over a long period. The firm also has a $20 trillion market cap on Ethereum. This is because ETH is valuable as a default currency in areas such as DeFi, Ethereum related applications and NFTs.