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ARK’s Analyst Insists Bitcoin Price Will Exceed $1 Million

By Simon LawsonOctober 12, 20221 Min Read
ARK’s Analyst Insists Bitcoin Price Will Exceed $1 Million
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BTC -0.17%/">Bitcoin holders and miners have been selling aggressively in 2022 as the Federal Reserve has sharply tightened monetary policy and pushed investors away from riskier assets such as cryptocurrencies.

However, ARK’s cryptocurrency analyst Elmandjra said on Tuesday that there is still a significant opportunity for Bitcoin, reiterating the firm’s view that the price of Bitcoin will exceed $1 million per coin in the years ahead.

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When we look at Bitcoin’s potential, we divide it by its uses, from a digital competitor as a store of value, to a settlement network, to insurance against arbitrary seizure of assets, he explained. When you stack up each use one by one, you find a roughly $28 trillion opportunity, which translates to over $1 million per Bitcoin.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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Simon Lawson
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Simon Lawson has been a professional financial reporter for 6 years. He has in-depth research on the crypto industry and will release major crypto news in a timely manner.

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