1 Superior Cryptocurrency to Buy Before It Soars 2,860%, According to Cathie Wood’s Ark Invest

By Sunil Gavhane

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1 Superior Cryptocurrency to Buy Before It Soars 2,860%
1 Superior Cryptocurrency to Buy Before It Soars 2,860%: Ark Invest says Bitcoin could skyrocket as spot ETFs and the next “halving” event boost demand for the cryptocurrency.

Bitcoin : In February, the cryptocurrency reached a big achievement by going over $50,000 for the first time since December 2021. It has gone up by 120% in the last year because people are feeling more positive about the economy and are more willing to invest in things that are riskier. Also, the recent approval of Bitcoin funds that can be traded on the stock market has helped its price go up.

Cathie Wood’s Ark Invest believes Bitcoin’s price will go up a lot. They think it could reach $1.48 million by 2030, which means it could increase by 2,860% from its current price. If this prediction comes true, investing $10,000 in Bitcoin now could grow to about $296,000 by 2030.

Here’s what you need to understand about this digital currency.

Bitcoin has produced superior returns compared to other asset classes

Bitcoin has been an amazing investment for the past five years. It was almost impossible to find a better investment during this time. The value of Bitcoin grew by 1,140% from January 2019 to January 2024, increasing by 65% every year.

This huge growth beats other big investments. Over five years, commodities grew 5.4% each year, stocks from developing countries grew 1.4% each year, the S&P 500 grew 14.3% each year, U.S. bonds grew 0.8% each year, and corporate bonds with high returns grew 4.4% each year, says Morgan Stanley.

Bitcoin did better than those other types of investments in four of the past five years, showing its strong earnings weren’t just because of one really good year.

The table shows that Bitcoin has been a good investment for the last five years, despite its ups and downs. The value of Bitcoin dropped by more than half three times. However, those who kept their investment during these tough times ended up making a good profit.

Ark Invest says that people who have bought Bitcoin and kept it for at least five years have always made money, no matter when they bought it. Bitcoin started in 2009, so it hasn’t been around for a very long time.

Important catalysts for Bitcoin in 2024 (and beyond)

The price of Bitcoin changes based on how much people want it and how much is available, just like anything else you can buy. However, Bitcoin is different because there is a limit to how much can exist. Its rules cut the rewards for creating new Bitcoin in half every time 210,000 blocks are added to its ledger, which happens about every four years. This process is called Bitcoin halving, and there can only ever be 21 million Bitcoins.

So, the main thing that affects Bitcoin is how much people want it. And there are two big things that could make more people want it in the next few years.

Spot Bitcoin ETFs: The SEC just said yes to 11 Bitcoin ETFs, which are like pools of money that follow Bitcoin’s price. Now, both regular people and big investors can easily invest in Bitcoin without dealing with complicated trading platforms or figuring out how to safely keep their Bitcoin. Basically, these Bitcoin ETFs make everything smoother and might make a lot more people want to invest, especially since some of the biggest investment companies, like BlackRock and Fidelity, are involved.

Bitcoin halving: In April, the amount of Bitcoin miners earn will be cut in half, from 6.5 to 3.25 Bitcoin per block. This is expected to increase demand since there will be less Bitcoin being sold. Right now, miners sell around $12 billion worth of Bitcoin each year, says Michael Saylor, the CEO of MicroStrategy. But after this event, they will sell half as much, reducing the amount of Bitcoin put up for sale.

Ark Invest thinks that factors will cause Bitcoin’s value to significantly increase in the next few years. They have set three different future price goals. Their lowest prediction suggests Bitcoin could be worth $258,500 by 2030, which would be a 417% increase. Their middle prediction puts Bitcoin at $682,800 by 2030, which would mean a 1,265% increase. Their highest prediction estimates Bitcoin could reach $1.48 million by 2030, which would be a 2,860% increase.

Cathie Wood recently said on CNBC that it’s more likely for stock prices to go up after the approval of direct Bitcoin investment funds.

Bitcoin is a worthwhile investment for some investors

Thinking about amazing price goals is enjoyable, but investors should pay attention to real information instead of guesses. Simply put, Bitcoin has been a great investment for the past five years and its price might keep going up because of new Bitcoin ETFs and the upcoming halving event that could increase interest. But, Bitcoin’s price has also been very up and down in the last five years, and the rules around cryptocurrencies are still not clear.

People who don’t mind the risks and can wait at least five years might think about putting a little bit of their money into Bitcoin, but I would not put more than 5% of my money in it at first.

Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.

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