ARK Invest has raised its Bitcoin price predictions to $2.4 million for 2030, driven by new modeling that accounts for lost coins.
The surge in Bitcoin outflows from exchanges indicates a bullish trend as investors, including institutions, accumulate Bitcoin in cold storage.
Deep dives
ARK Invest's Updated Bitcoin Price Targets
ARK Invest has significantly raised its Bitcoin price targets, now predicting a bull case of $2.4 million per Bitcoin by 2030. This revision follows a new price modeling methodology that considers factors like Bitcoin adoption and the restriction of liquid supply, which have shifted dramatically in recent months. Notably, the firm's bear case now estimates Bitcoin will reach $500,000, a considerable increase from the previous forecast of $300,000. The updated expectations reflect the firm’s growing belief in Bitcoin's role in traditional investment portfolios and the increasing perception of Bitcoin as digital gold.
Increase in Crypto Exchange Outflows
There has been a notable surge in outflows from crypto exchanges, indicating a bullish sentiment among investors who are moving their Bitcoin into cold storage rather than selling it. Recent data from CryptoQuant shows that large withdrawals, particularly significant ones from Binance and Coinbase, reflect a growing accumulation trend among Bitcoin whales. Despite some skepticism about the bullish signal these outflows typically represent, the data reveals that institutional participation is strong amidst market volatility. This active accumulation suggests confidence in Bitcoin's future potential, despite price fluctuations.
Stripe's Entry into the Stablecoin Market
Fintech giant Stripe is developing a new stablecoin product aimed at providing dollar access, particularly in emerging markets, to compete with existing players like Tether. The company's product manager announced that they are ready to test the offering after acquiring a stablecoin infrastructure firm for a substantial sum. This venture underscores Stripe's recognition of the growing demand for digital currencies in regions where traditional banking solutions are lacking. Analysts predict that the overall stablecoin market could significantly expand by 2030, highlighting the emerging trend of stablecoins as critical to the financial landscape.
Perma Bitcoin bulls Ark Invest have raised their 2030 bullish bitcoin target. More important than the number is the logic, which argues that we're not accounting enough for lost coins with our supply models.
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