Ark Invest Predicts Bitcoin Will Hit $1M in Next Decade
Yassine Elmandjra, an analyst from Ark Invest, believes that the value of bitcoin could reach $1 million in the next decade with the increasing importance of the digital economy.
In an interview with TD Ameritrade Network, he has stated that the impressive performance of Bitcoin over the past decade makes it an appealing part of investment portfolios.
He recommends that institutionals allocate between 2.5% to 6.5% of their portfolios to Bitcoin, depending on their risk appetite and the overall return of the portfolio.
Elmanjra has also argued that it is not too late to invest in Bitcoin, citing its demonstrated resilience during volatile markets and its value as a store of value.
The 30x price growth forecast may appear far-fetched, but Elmanjra stated that it is “quite reasonable” when looking at the cryptocurrency’s history of development.
