ARK Invest predicts a tenfold rise in Bitcoin - Kakiforex | Forex markets for the smart money. ARK Invest predicts a tenfold rise in Bitcoin ARK Invest predicts a tenfold rise in Bitcoin

April 7, 2021

ARK Invest predicts a tenfold rise in Bitcoin

 While bitcoin continues to hover around the $60,000 mark, most experts continue to give out "free predictions" on the future value of the bitcoin. We have already noted more than once that the forecasts of those experts who themselves own bitcoin or other crypto assets should be divided by 8. We do not deny that in a year or two bitcoin can cost both $100,000 and $200,000 per coin. However, it should be clearly understood that those people who own large amounts of money in bitcoin are interested in the fact that the cryptocurrency continues to rise in price. The more new investors, both small and institutional, come to the market, the more bitcoin will rise in price, which, of course, is beneficial for all owners of "digital gold". Therefore, while bitcoin is at its peak of popularity, no matter how much it costs, there will always be a huge number of experts who will predict absolutely crazy values.

Analysts at ARK Invest believe that in the coming years, the capitalization of bitcoin will grow 10 times, and the "digital gold" itself will become the main financial instrument in the world. "Bitcoin is much better than traditional gold. There is a high probability that it will outshine gold in the near future," says ARK Invest crypto analyst Yassine Elmanjra.

Elmanjra also criticized the words of US Treasury Secretary Janet Yellen about the insolvency of bitcoin as a means of payment. Yellen also called bitcoin a "speculative asset." According to Elmanjra, these are absolutely outdated arguments that are voiced by people who do not have proper education and do not want to study this issue. However, we believe that Janet Yellen is right at the moment.

The fact that bitcoin is increasingly growing in price and, accordingly, is in demand among all categories of investors, does not negate its pronounced speculative nature, the highest volatility, and the fact that the cryptocurrency is often used in illegal operations, as it is decentralized and not controlled by any government. Thus, the forecast of a tenfold increase in the capitalization of bitcoin by the company that is engaged in investing in BTC looks at least not very plausible.

At the same time, MicroStrategy, which, we recall, is engaged in the development of analytical software, continues to invest all available funds in bitcoin. This time, the company purchased another 253 coins worth $15 million. This was stated by the head of the company, Michael Saylor. The purchase price of one coin was about $59,300. Thus, the company now owns a total of 91,579 bitcoin coins, most of which were purchased at an average cost of $24,000. True, the quotes of the bitcoin itself are no longer ready to respond with new growth to every such statement.

But the famous US investor Kevin O'Leary believes that it is time for the global community to pay attention to the environmental problem that cryptocurrency mining causes. According to O'Leary, the crypto community will divide bitcoin into two types in the coming years: "clean" and "dirty". "Clean" bitcoin is produced using renewable energy sources. "Dirty" bitcoin is produced using non-renewable energy, which provokes huge emissions of carbon dioxide into the atmosphere. O'Leary himself said that he would go on the side of clean bitcoins. Scientists have recently become increasingly concerned about the problem of CO2 emissions into the atmosphere. The extraction of cryptocurrency annually "costs" nature 60 million tons of carbon dioxide in the atmosphere.