Ark Invest believes that the market value of bitcoin (BTC) will one day “comfortably exceed” the value of gold and, according to the London Times, will exceed $ 10 trillion.
Ark analysts, led by veteran shareholders Katie Wood, estimate that the $ 1 trillion bitcoin trillion will grow tenfold over the next few years as it evolves from a peripheral asset to a conventional financial instrument.
Bitcoin’s value has only doubled since January 2021, doubling its 500% gain by 2020. As is usually the case, the rising wave of Bitcoin has lifted all boats to a wider cryptocurrency peg, sending many to new heights in the process. … Now that the global market value is just under $ 2 trillion, raising to $ 10 trillion is not working.
Yasin El-Mangra, a cryptocurrency analyst at Ark, believes Bitcoin has the potential to surpass the $ 10 trillion value of gold:
“If you look at gold as a $ 10 trillion market value, bitcoin is about 10 percent of it, and if we think bitcoin is a 100 times better version than this, it’s safe to say that there is a good chance that Bitcoin will pick it up. Lots of gold, market share and much more. ”
But what about the impact of regulation on the future performance of Bitcoin? Elmanjra responded to claims by US Treasury Secretary Janet Yellen that Bitcoin is inefficient, unstable, and often used for illegal activities.
“I think these are just outdated arguments that indicate their complete lack of education, which happens only because they are not interested in it,” said Al Menjra.