Ark Investment Management analyst Yassine Elmandjra is standing by his firm’s prediction that the Bitcoin price will shoot past the million-dollar mark, despite this year’s massive crypto sell-off in the digital currency.
Cathie Wood, the fund manager behind Ark’s flagship innovation-themed ETFs, forecast earlier this year that the world’s largest cryptocurrency (BTC) would top $1 million per coin by 2030. Yet, coin holders and miners have been selling off Bitcoin en masse in 2022 as the Federal Reserve continues to aggressively tighten monetary policy, driving investors away from riskier asset classes, such as crypto.
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