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©Reuters.Bitcoin to $2.3 million? ARK Invest does not rule this out
In its U.Today – Big Ideas 2024 report, ARK Invest reveals key insights into the future of , suggesting an optimal allocation ratio of 19.4% within a global investment portfolio. This represents a significant increase from his 0.5% allocation observed in 2015 and indicates a growing awareness of Bitcoin’s role in the broader investment landscape.
The report claims that allocating just 1% of the $250 trillion global investable asset base to Bitcoin could drive the price of Bitcoin to $120,000. But the more notable prediction comes with a 19.4% allocation, with a potential price projected at $2.3 million. While these numbers may raise some eyebrows, they highlight the evolving perception that Bitcoin is a legitimate asset class.
This report focuses on the major catalysts for Bitcoin in 2024, with a focus on the next halving expected in April. This event occurs approximately every four years and historically coincides with the start of a bull market. The upcoming halving could reduce Bitcoin’s inflation rate from ~1.8% to ~0.9%, impacting its value.
Institutional investor acceptance has also emerged as a key factor, with ARK predicting a shift in perception from viewing BTC as a speculative vehicle to seeing it as a strategic investment in a diversified portfolio. Notably, influential figures like BlackRock (NYSE:) CEO Larry Fink have signaled a change in stance on Bitcoin’s potential as a “flight to quality.” There is.
This article was originally published on U.Today
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