ARK Invest Increases 2030 Bitcoin Price Target to $2.4 Million
ARK Invest has increased its Bitcoin (BTC) price target for 2030 to $2.4 million, based on revised assumptions about active supply, excluding lost or long-held coins. Current trading price is around $94,000.
The new bull-case target represents a 60% increase from January 2024's estimate and indicates a 72% compound annual growth rate (CAGR) through 2030. Other projections include:
- Base case: $1.2 million (53% CAGR)
- Bear case: $500,000 (32% CAGR)
Analyst David Puell employed a model considering total addressable market and market penetration across sectors such as institutional investment and Bitcoin’s use as "digital gold."
In November, Puell predicted a price range of $104,000-$124,000 by year-end. Bitcoin ended December at $93,440, reached a high of $109,000 in January, then fell to around $74,500 earlier this month.
The recent price rally is attributed to decreasing exchange balances, indicating more BTC is being moved to private wallets. Glassnode data shows that exchange-held BTC dropped from approximately 3 million in November 2024 to 2.6 million.
