Headed up by veteran stock picker Cathie Wood, analysts at Ark believe Bitcoin’s $1 trillion value is set to rise tenfold in the coming years, as it moves from being a fringe asset to a mainstream financial tool.
The value of Bitcoin doubled since January 2021 alone, compounding 500% gains made throughout 2020. As is normally the case, Bitcoin’s rising tide lifted all of the boats in the wider cryptocurrency marina, sending many to new all-time highs in the process. With the global market cap now worth just under $2 trillion, the climb to the $10 trillion mark doesn’t seem too far away.
Yassine Elmandjra, a crypto asset analyst at Ark, believes Bitcoin has the potential to surpass gold’s $10 trillion market cap:
“If you look at gold as a $10 trillion market cap, bitcoin is about 10 per