Bitcoin Price On its Way to $1 Million? ARK Invest is still sure of that.

10/13/2022, 07:34 PM
Bitcoin Price On its Way to $1 Million? ARK Invest is still sure of that.
In recent years, there has been a growing belief that Bitcoin could reach stratospheric prices in the future. This is primarily due to the fact that Bitcoin has a number of characteristics that make it an attractive investment. Firstly, Bitcoin is limited in supply, with there only being 21 million coins in existence. This makes it a scarce resource, which could lead to an increase in price as demand grows.

Secondly, Bitcoin is decentralized, meaning that it is not subject to the whims of central banks or government interference. This makes it a safe investment, as it is not subject to the same risks as traditional fiat currencies. Finally, Bitcoin has a number of uses, including being a store of value, a means of payment, and a hedge against inflation. These factors all suggest that Bitcoin has the potential to reach extremely high prices in the future.

ARK Invest is one organization that has been particularly bullish on Bitcoin, with analyst Yassine Elmandjra recently predicting that the cryptocurrency could reach $1 million per coin. This is based on the belief that Bitcoin could capture a significant portion of the global market capitalization, which is currently estimated to be around $280 trillion.
While this may seem like a lofty goal, it is important to remember that Bitcoin is still in its early stages of development and adoption. As more people become aware of its potential and begin to invest, it is not inconceivable that Bitcoin could reach such high prices.

I think there is an arms race — especially as we shift from the digital to the physical world — to be an asset independent of the traditional financial systems and traditional asset classes,” he concluded.
- Yassine Elmandjra
MicroStrategy CEO Michael Saylor is another prominent individual who believes that Bitcoin could reach $1 million per coin. Saylor has been a big advocate of Bitcoin, and has even invested $2.3 billion of MicroStrategy’s cash reserves into the cryptocurrency. He believes that Bitcoin is superior to gold in every way, and that its use cases will drive a huge price rally in the future.

While there is no guarantee that Bitcoin will reach such high prices, it is certainly possible. The cryptocurrency has a number of characteristics that make it a very attractive investment, and as adoption grows, so too will the price. Only time will tell whether Bitcoin will reach $1 million per coin, but it is certainly a possibility.

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