Ark Sees Bitcoin Surging by 920% to $16 Trillion Market Value

Cathie Wood's Ark Investment Management is famously bullish on Bitcoin, predicting it will reach a $16 trillion market value by 2030.

This would translate to a price of $797,000 per coin, representing an upside of 920% from the current level.

The firm points to six catalysts that could drive this growth: institutional investment, digital gold, emerging-market safe haven, nation-state treasury, corporate treasury, and Bitcoin on-chain financial services.

However, two of these catalysts account for the bulk of the forecast: institutional investment and digital gold. Ark believes global fund managers will eventually park around 2.5% of their $200 trillion in managed assets in Bitcoin, adding $5 trillion to the cryptocurrency's market cap.

The digital gold catalyst suggests Bitcoin could capture between 20% and 60% of gold's $32 trillion market cap as investors look for an alternative to the shiny yellow metal.