ARK Invest says Bitcoin price could reach $2.4 million by 2030
ARK Invest has updated its long-term outlook for Bitcoin (CRYPTO:BTC), raising its bull case price target to $2.4 million by the end of 2030.
The revised projection, announced in April 2025, is driven by expectations of greater institutional adoption and Bitcoin’s evolving role as a digital store of value.
“Institutional investment contributes the most to our bull case,” according to ARK research analyst David Puell, with estimates that Bitcoin could achieve a 6.5% penetration rate in the $200 trillion global financial market, excluding gold.
The report also notes that Bitcoin’s acceptance as “digital gold” is a significant factor, suggesting it could capture up to 60% of gold’s $18 trillion market capitalisation by 2030 in the most optimistic scenario.
“This Bitcoin use case has the greatest potential for capital accrual,” Puell added, highlighting its perceived ability to protect wealth from inflation and devaluation, particularly in emerging markets.
ARK’s updated scenarios also include a base case projection of $1.2 million and a bear case of $500,000 for Bitcoin by 2030, both higher than previous estimates.
The modeling framework for these targets considers Bitcoin’s total addressable market, adoption rate, and supply schedule.
Other contributors to the price projections include nation-state and corporate Bitcoin treasury strategies, as well as the development of Bitcoin financial services.
If Bitcoin were to reach the $2.4 million target, its market capitalisation would approach $49.2 trillion, a figure that would exceed the combined current GDPs of the United States and China.
The report emphasises that even the lower-end projections would require substantial compounded annual growth rates, with Puell noting that such returns are rare for assets that have already achieved trillion-dollar valuations.
At the time of reporting, the Bitcoin (BTC) price was $93,575.42.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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