Bitcoin will hit $1 million by 2030
ARK Invest believes the value of bitcoin could rise to $1 million by 2030. Despite severe market downturns and other related cryptowinter issues, bitcoin continues to outperform many other asset classes.
Moreover, according to research, bitcoin has the highest long-term holdings, hash rate and addresses with a balance sheet greater than zero. Even with the current challenging market conditions, bitcoin holders are currently focused on long-term fundamentals. The ARK Invest report shows that more than 71% of all circulating bitcoins are held by long-term holders.
As for the latest data, bitcoin has surpassed the $20,000 mark and is trading at $23,000. If the digital currency can overcome the resistance, it could be open to further growth in the coming days.