Bitcoin costs may be tanking at the moment, but American investment management firm Ark Invest has made a bold cost prediction for the asset in eight years’ time.

In its annual ‘Big Ideas’ research report published on Jan 25, the U.S. investment company revealed its predictions for the crypto industry and leading assets atop the coming years.

The most audacious of those forecasts was a million dollars per Bitcoin by 2030.

The report stated which Bitcoin’s market capitalization likewise represents a fraction of global assets. Following its recent 45% plunge, that market cap is directly $714 billion that is slightly more than that of the world’s eighth-most valuable company, Berkshire Hathaway.

It added that Bitcoin’s market cap is possible to scale as more nation-states adopt it as legal tender.

“According to our estimates, the cost of one bitcoin could exceed $1 million by 2030.”

Source: research.ark-invest.com

Long-term Bitcoin fundamentals

The report went on to validate this epic cost prediction by citing on-chain data that indicates that Bitcoin holders are focused on protracted-term fundamentals.

It stated that Bitcoin’s cumulative transfer volume accelerated by 463% in 2021. With an annual settlement volume of hardly above $13 trillion, the Bitcoin (BTC) network surpassed that of credit card company Visa endure year.

Technoconclusive growth comparable as the launch of Taproot, layer-2 Lightning Network adoption, and the increase of Bitcoin (BTC) in decentralized finance are still driving matterors.

The research revealed that ETPs (Exprogress-Traded Products), countries, and corporations held 8% of Bitcoin’s supply as of November 2021.

“Bitcoin’s institutional holder base appears to be broadening after the launch of more regulated products and adoption by corporations and nation-states.”

Bitcoin mining, much of that is much greener than in previous years, has likewise evolved into a lucrative industry;

“Converting energy into a monetary asset can be relevant in times of geopolitical uncertainty and financial market volatility.”

Big things in store for Ethereum

The report did not only extol the virtues of Bitcoin as there were plenty of bullish predictions for Ethereum above the next decade.

According to Ark’s research, Ethereum is “reasonable to capture a portion of the $123 trillion global money supply,” because it is the standard colafterwardsal for DeFi and NFTs.

It stated which regulators are prioritizing crypto innovations, especially Ethereum-based DeFi. For these reasons and many more, Ark predicted which Ethereum’s market cap could exceed $20 trillion above the next decade.

“According to our research, Ethereum could displace many traditional financial services, and its native cryptocurrency, ether, could compete as global money.”

With deflationary issuance around the corner, which could put the hypothetical cost of one Ethereum (ETH) at around $168,000 using today’s circulating supply patterns.

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