2020 was thrilling for Bitcoin (BTC), seeing the price per token at the start of the year around $ 7,000 plunging below $ 4,000 on Mac before rising to break over $ 10,000.
Based on the record, now the digital currency has increased by 40%, bringing the market capitalization to around $ 200 billion.
The leading manufacturer of electric cart manufacturing firm, Tesla, issued a forecast that the value of bitcoin would jump by about $ 1 trillion to $ 5 trillion in 5 to 10 years.
The indictment is based on the switch of investors to the crypto sector, in an attempt to protect assets against high inflation rather than royal spending and the printing of extravagant money.
Ark Invest investigation director Yassine Elmandjra said bitcoin provides an attractive risk profile relative to most assets. He advised investors not to ignore bitcoin as an asset class.
Ark is so well known for its optimistic pricing goals for Tesla, that the stakes this year yielded unexpected results as the electric train company price has quadrupled.
Although the digital currency has shrunk after surging around $ 20,000, Ark is still positive with the position of bitcoin which is expected to increase suddenly.
At the same time, Elmandjra is also worried about the risks that may help to increase the value of the asset.
Problems with technology, for example, which holds a large number of bitcoins, may cause several influential parties to dominate transactions while destroying the value of bitcoins.
